It is time to buy a new car, and you

It is time to buy a new car, and you have done a considerable amount of research on the matter over the past weeks. From consumer magazines and various online sources, you have reviewed an impressive body of information on different models’ repair records, road handling, specifications and features, comfort, customer satisfaction, and so on. You have test-driven a half-dozen candidates and discussed prices with several dealers for each model. All things considered, you have decided to buy a Model M and will finalize purchase in the next few days. However, after attending a party last night, you are less certain. An acquaintance spent the better part of the evening recounting the disastrous experience he had with his new Model M. He got rid of the car after six months of electrical, steering, and handling problems. He is considering suing the dealer and claims you are crazy even to consider buying the Model M. What do you do now?

A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...


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