One result of asymmetric information in the market for used cars is that
a. few used cars are offered on the market
b. few lemons are sold
c. more lemons may be offered for sale than good cars
d. buyers benefit at the expense of sellers
e. good cars will sell for more than they are worth
C
Economics
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A market tends to be monopolistic if
a. The good has too many substitutes b. The good has very few substitutes c. The good has too many complements d. The good has very few complements
Economics
A supply curve illustrates a(n) ____ relationship between ____ and ____
a. direct; price; supply b. direct; price; quantity demanded c. direct; price; quantity supplied d. inverse; price; quantity demanded
Economics