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2 Nov 2020
5. When uninformed buyers of used cars are willing to pay a price that is the average of the value of a lemon and the value of a good used car, which of the following will occur?
a. Most used cars offered for sale will not be lemons.
b. Most used cars offered for sale will be lemons.
c. The quantity supplied of lemons will be identical to the quantity supplied of good used cars.
d. Only good used cars will be offered for sale.
5. When uninformed buyers of used cars are willing to pay a price that is the average of the value of a lemon and the value of a good used car, which of the following will occur?
a. Most used cars offered for sale will not be lemons.
b. Most used cars offered for sale will be lemons.
c. The quantity supplied of lemons will be identical to the quantity supplied of good used cars.
d. Only good used cars will be offered for sale.
Raushan RajLv8
2 Nov 2020
