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a When you are shopping for a used car, Carfax is a great resource. It offers the history of the vehicle comprising information such as

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a When you are shopping for a used car, Carfax is a great resource. It offers the history of the vehicle comprising information such as service records, odometer readings and accidents. A service like Carfax mitigates the following problem of the used car market: A free rider phenomenon OB, adverse hazard C moral hazard OD adverse selection

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