Which of the Following Is True of a Used Car

question 89

Multiple Choice

Which of the following is true of a used car market?

• A) The sellers have more information than the buyers.
• B) Gains from trade do not exist in the market.
• C) The cars sold are identical in quality.
• D) There is no consumer surplus in the market.

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Definitions:

Ativan

A prescription medication used to treat anxiety disorders, known generically as lorazepam.

Systematic Desensitization

A therapeutic method used to reduce phobia or anxiety by gradually exposing the patient to the feared object or context without any danger.

Cognitive Therapy

A type of psychotherapy that emphasizes the importance of thought patterns and beliefs in affecting mood and behavior.

Tardive Dyskinesia

A neurological disorder characterized by involuntary, repetitive body movements, often resulting from long-term medication use.