Multiple Choice
A person buys a used 1998 Honda Civic and finds that there is a problem in the drive train so that the whole set of axles must be replaced. However, the state has a lemon law that protects the buyer from these kinds of discoveries for 30 days. These lemon laws attempt to correct for the problem of:
A) monopoly power.
B) adverse selection.
C) risk premiums.
D) ratification before implementation.
Correct Answer:
Verified
Correct Answer:
Verified
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