Recall the model of the market for used cars described in lecture. Explain in words why...
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Recall the model of the market for used cars described in lecture. Explain in words why A>1 is a necessary condition for a market for used cars to exist. Be concise. Recall the model of the market for used cars described in lecture. Explain in words why A>1 is a necessary condition for a market for used cars to exist. Be concise.
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Lemon market is a model of asymmetric information Asymmetrical information is a term which says that ... View the full answer
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