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Used Cars: Lemons or Peaches? The Problem of Asymmetrical Information

Used Cars:  Lemons or Peaches? The Problem of Asymmetrical Information
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This activity can be used both as the basis for a written assignment and/or as a discussion. It starts with the economics of Lemons--bad cars. Might the entire used car market disappear? Students explore how that might occur, crunching a few numbers, but end up discovering ways in which markets limit the problem of asymmetrical information, and apply the problem and the lesson to other areas of life as well.
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