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Group 1 has N cars to sell with quality between 0 and 2 and group 2 has no cars to sell, therefore S 1 = pN/2 and S 2 = 0. For a given price p , average quality is p /2, and therefore D = 0. The market for used cars collapses when there is asymmetric information.
They "never say never," however—budget-busting cars will score as low as possible on the purchase price, but won't be removed from the list of alternatives. And for cars priced under budget, a $1,000 difference in price doesn't matter much to the Joneses, but a $5,000 difference is strongly important, and a $10,000 difference is extreme.
Net promoter score (NPS) is a market research metric that is based on a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend or colleague. [1]
Your Gas Costs Are Terrifying. In 2018, Reuters reported that the average fuel economy for cars and trucks rose to a record 24.7 combined mpg. You, however, can do a lot better than that with ...
2. Calculate your down payment. Before you head to the lot to buy a car, take the time to calculate your down payment.This amount will depend on your unique financial situation and the kind of car ...
S&P Global Mobility finds the average age of cars and trucks on the road hit 12.2 years in 2022, an all-time high. S&P says this is the fifth straight year the average vehicle age has risen.
Willingness to recommend is a metric related to customer satisfaction. When a customer is satisfied with a product, he or she might recommend it to friends, relatives and colleagues. This willingness to recommend can be a powerful marketing advantage. In a survey of nearly 200 senior marketing managers, 57 percent responded that they found the ...
CarGurus provides a list of five telltale signs it might be time to sell your car.