"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. They create a public good by providing information about used cars to everyone.
"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. They create a public good by providing information about used cars to everyone.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter3: Your Role As A Consumer
Section3.3: Consumerism
Problem 5R
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![Question 20
♫
"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the
cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist?
Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.
3
They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough
time to find out the true condition of the car.
b They create a public good by providing information about used cars to everyone.
They create a common resource by letting everyone know about the condition of used cars.
d They force the seller to tell the buyer everything about the used car.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fefb3926d-a816-4971-85e9-1f0dbdf5436e%2Fbdea399b-9b5d-4e05-b8b7-efd987e79f08%2Fcntm7ta_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 20
♫
"Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the
cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist?
Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.
3
They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough
time to find out the true condition of the car.
b They create a public good by providing information about used cars to everyone.
They create a common resource by letting everyone know about the condition of used cars.
d They force the seller to tell the buyer everything about the used car.
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