Figure 17.1.1 -Used Cars Sell for Much Less Than New Cars Because

Multiple Choice

Figure 17.1.1
-Used cars sell for much less than new cars because:

A) of imperfect competition in the automobile industry.
B) buyers know much more about the quality of used cars than sellers do.
C) sellers know much more about the quality of used cars than buyers do.
D) physical depreciation of used cars is very high.
E) of licensing arrangements by the government.