Multiple Choice
In the used car market with no warranties,the market for lemons (poor quality used cars) is ________ and the market for good cars is ________.
A) efficient; efficient
B) inefficient because of oversupply; inefficient because of undersupply
C) inefficient because of oversupply; inefficient because of oversupply
D) efficient; inefficient because of undersupply
E) inefficient because of oversupply; efficient
Correct Answer:
Verified
Correct Answer:
Verified
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