Final answer:
An online retailer's site facilitates transactions over the internet, with L.L. Bean using strategies like money-back guarantees to succeed amidst imperfect information. The Marketplace Fairness Act of 2013 is supported by some retailers like Amazon to promote fair competition and streamline tax processes.
Step-by-step explanation:
An online retailer's site is essentially a software platform that enables the transaction of products or services over the internet. A reputable retailer like L.L. Bean leverages its website to conduct most of its sales, given its limited number of physical stores. The firm overcomes the hurdle of imperfect information, a challenge for customers who cannot physically interact with products prior to purchase, by offering a money-back guarantee and maintaining a strong reputation for product quality. This strategy helps to build customer trust and encourages purchases in the absence of a traditional brick-and-mortar shopping experience.
Regarding the Marketplace Fairness Act of 2013, a large online retailer such as Amazon.com might support this legislation as it helps level the playing field between online and physical stores by requiring the collection of state sales tax. This can also simplify the tax compliance process for online merchants and potentially reduce opposition to online shopping from states seeking revenue.