2. If you sell your used car privately, you offer it without a warranty. Assuming the potential...

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2. If you sell your used car privately, you offer it without a warranty. Assuming the potential buyer doesn’t know you, your car without a warranty would be perceived as a lemon. You would not be able to sell it for the price of the good car that it is. You would sell it to a dealer if he offered you more than the price of a lemon.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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