Many car owners and car dealers describe their different cars for sale in the local newspapers and list their asking price.Many people shopping for a used car consider the different choices listed in the paper.The market for used cars could be described as

Question

Quizplus · Accepted Answer

The market for used cars is relatively competitive because car owners and car dealers are able to describe their different cars for sale in the local newspapers and list their asking price, which allows for comparison and competition among sellers. However, it is not perfectly competitive because there may be some barriers to entry and not all sellers may have equal access to information or resources. Additionally, there may be some transaction costs involved in buying a used car, such as the cost of inspecting the car or negotiating the price with the seller.

Many Car Owners and Car Dealers Describe Their Different Cars