Question: Could I have only answer? If I need a explaination, I will leave a additional comment. Thanks. Asymmetric information arises in contracts when one party

Could I have only answer? If I need a explaination, I will leave a additional comment. Thanks.

Asymmetric information arises in contracts when one party has:

1) No information that has value to the other party.

2) More information relevant to the contract than the other party.

3) The same wrong information as the other party.

4) Has an equal amount of relevant information as the other party,

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