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4) The Japanese car makers [Toyota, Honda and others] have almost eliminated the 'lemon' issue in new car markets. This is an example of positive

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4) The Japanese car makers [Toyota, Honda and others] have almost eliminated the 'lemon' issue in new car markets. This is an example of positive adverse selection. Explain with examples how and when positive adverse selection can arise. 5) A restaurant in London (England) has removed prices from its menu. Each patron is asked to pay what he or she thinks the meal was worth. Does this pricing strategy have an economic rationale

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