Final answer:
The student's issue with insufficient product information could be directly affecting demand and sales of high-quality emeralds on their website. Improved information can build customer trust and justify the value of the emeralds, leading to increased demand and sales.
Step-by-step explanation:
Identifying as part of the student’s problem, insufficient product information appears to be the most pertinent issue. Improved product information can greatly affect both the demand for emeralds and the quantity of high-quality emeralds sold on the website. When detailed and accurate information is provided, customers are more likely to trust the seller and feel confident in their purchase, leading to an increase in demand.
In the case of high-quality emeralds, providing thorough information including certificates of authenticity, high-resolution images, and detailed descriptions can substantiate the value of the products, thereby potentially increasing the quantity sold. This aligns with market failure concepts such as imperfect information, where a lack of information can lead to suboptimal purchasing decisions, hindering both the buyer and seller.