"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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