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Suppose the government discontinues a certification program that allows consumers to differentiate energy-efficient refrigerators from energy-inefficient ones. Consumers cannot tell the difference without the certificates,
Suppose the government discontinues a certification program that allows consumers to differentiate energy-efficient refrigerators from energy-inefficient ones. Consumers cannot tell the difference without the certificates, but sellers know which type of refrigerators they have in their possession. Discuss the likely effect of this change on the market prices of the two types of refrigerators. You can ignore the production of refrigerators for this
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