One way the "lemons problem" in the used-car market can be mitigated is by
a. raising the price of used cars.
b. hiring auto experts to sell used cars.
c. requiring sellers to guarantee trouble-free cars.
d. allowing owners to trade in their own cars when they purchase a used car.
c
Economics
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A key determinant of the price elasticity of supply is the
a. number of close substitutes for the good in question. b. extent to which buyers alter their quantities demanded in response to changes in prices. c. length of the time period. d. extent to which buyers alter their quantities demanded in response to changes in their incomes.
Economics
A representative unit by which utility is measured is
A) a util. B) utility. C) marginal utility. D) ordinal utility.
Economics