"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. They create a public good by providing information about used cars to everyone.

"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. They create a public good by providing information about used cars to everyone.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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