Final answer:
The subject of this question is Business. L.L. Bean is a mail-order firm that sells products through mail, telephone, and its website. The firm overcomes the challenge of imperfect information by offering a money-back guarantee and ensuring a reputation for quality.
Step-by-step explanation:
The subject of this question is Business.
L.L. Bean is a firm that primarily sells its products through mail, telephone, and its website. This type of firm, known as a mail-order firm, faces the challenge of imperfect information because customers cannot physically see and touch the products before purchasing. To address this problem, L.L. Bean offers a combination of a money-back guarantee and a reputation for quality, which helps the mail-order firm to thrive.