How does a lemon, or inferior product, push out a better product, or plum from the marketplace?

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How does a "lemon", or inferior product, push out a better product, or "plum" from the marketplace? Assume the market begins with a 50/50 split of lemon and plum products.

What are two ways to counteract Information Asymmetry (or to prove your product or service is not a "lemon")?

Related Book For answer-question

Statistics For Business Decision Making And Analysis

ISBN: 9780134497167

3rd Edition

Authors: Robert A. Stine, Dean Foster

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Posted Date: Apr 09, 2024 03:11 AM

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How does a lemon, or inferior product, push out a better product, or plum from the marketplace?

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When a lemon product starts to push out a plum product in a marketplace initially balanc... View the full answer

Statistics For Business Decision Making And Analysis

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