Lemon laws try to correct and/or avoid imperfect information. These laws are designed to protect consumers from purchasing defective vehicles (often referred to as "lemons") by ensuring that sellers disclose problems and that buyers have recourse if they inadvertently purchase a faulty product.
Which economic problem do lemon laws try to correct and/or avoid?(1 point)
Responses
monopolies
monopolies
lack of competition
lack of competition
imperfect information
imperfect information
lack of resource mobility
1 answer