Question: You want to determine whether there is a lemons problem in the market for single-engine airplanes. Can you use any of the following information to

You want to determine whether there is a lemons problem in the market for single-engine airplanes.

Can you use any of the following information to help answer this question? If so, how?

a. Repair rates for original-owner planes versus planes that have been resold,

b. The fraction of planes resold in each year after purchase.

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