What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy ...

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What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy ...

What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy a lemon?
A) The sellers of gems reap high profits.
B) Higher gains from trade are realized.
C) The entire market shuts down.
D) The sellers of lemons earn high profits.

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Microeconomics

Edition: 1^st

Authors: Acemoglu, Laibson, List

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tuggy Author

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6 years ago

Thanks for helping on my microeconomics tutorial

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