One of the ways the market for used cars copes with the problems associated with private information is through the offering of
A) leases.
B) warranties.
C) low interest rates.
D) low prices.
B
You might also like to view...
Joe spends $72 on gasoline and sandwiches. The price of a gallon of gasoline is $3 and a sandwich is $4
Placing the quantity of sandwiches on the left side, what is Joe's budget equation? If sandwiches are measured on the vertical axis, what is the slope of Joe's budget line?
The opportunity cost of going to college full time away from home includes
A) the income you could have earned from a full-time job. B) the funds you would have saved if you had not paid the tuition. C) the time you could have spent with friends back home. D) All of the above are correct.
Refer to the above figure. If the government imposes a price ceiling of $60
A) the quantity traded will be 150, and the price will be $40. B) the quantity traded will be 100, and the price will be $60. C) the quantity traded will be 200, and the price will be $60. D) the quantity traded will be 150, and the price will be $60.
Individuals, firms, and societies are limited in the amount of goods and services that they can produce. This is a direct result of:
A. unemployment. B. waste. C. irrational behavior. D. scarcity.