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What would be expected in a market for used cars

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Question: What would be expected in a market for used cars, assuming asymmetric information and buyers who have little way to determine good used cars from poor used cars? The average price for used cars would go down and drive the better used cars out of the market. The asymmetric information would lead to a fair and efficient market. There would be little to no impact on the market for used cars. The average price for used cars would go down and drive the clunker used cars out of the market.

Reference no: EM133599361

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