Carfax is a service that supplies vehicle history reports on used cars, including their ownership history, mileage,
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Carfax is a service that supplies vehicle history reports on used cars, including their ownership history, mileage, and past accidents. The existence of Carfax as a third-party verifier in the used-car industry can result in which of the following? Choose any that apply.
a. An increase in buyers’ willingness to pay for used cars.
b. An increase in the number of cars available in the used-car market.
c. A more efficient outcome in the used-car market.
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Related Book For
Principles Of Economics
ISBN: 9781319330156,9781319419769
2nd Edition
Authors: Betsey Stevenson, Justin Wolfers
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