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When the government makes sure that gas pumps accurately measure the amount of gas they provide, it is addressing Imperfect information. This is further explained below.
Generally, there is a condition known as imperfect information where the parties involved in a transaction have differing information, such as when the vendor of a used automobile has more information than the buyer.
In conclusion, To deal with imperfect information, the government monitors gas station pumps to ensure they are providing the correct quantity of fuel.
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