Final answer:
When there is imperfect information, buyers and sellers may struggle to agree on a price. Sellers can reassure buyers by providing detailed information, offering trial periods or money-back guarantees, and providing references or testimonials.
Step-by-step explanation:
When a buyer and seller have imperfect information, it can be difficult for them to agree on a price. This is because the buyer may be unsure about the quality of the goods being sold and therefore may not be willing to pay a higher price.
In order to reassure a possible buyer in such situations, the seller can take several steps. One way is to provide detailed information about the product, including any certifications, warranties, or guarantees.
Another way is to offer a trial period or money-back guarantee, allowing the buyer to test the product and return it if they are not satisfied. Finally, the seller can provide references or testimonials from previous customers who have had positive experiences with the product.