Would you expect the market to be dominated by lemons


Problem

Double Ignorance. Suppose both buyers and sellers of used cars are ignorant: No one can distinguish between lemons and plums. Would you expect the market to be dominated by lemons? Illustrate with a completely labeled graph.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Would you expect the market to be dominated by lemons
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