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Other Fields Homework Help Economics Topic started by: Villerys39 on Jul 20, 2019



Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: Villerys39 on Jul 20, 2019



Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of the used bikes are lemons (low quality), how much will they be willing to pay for a used bike?

▸ $50

▸ $80

▸ $125

▸ $200


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: jfinn1021 on Jul 20, 2019
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Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: zmudasam on Jul 20, 2019



Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes are lemons (low quality), how many plums (high quality) will be supplied by sellers?

▸ 8

▸ 12

▸ 16

▸ 22


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: kamronet on Jul 20, 2019
8


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: zmudasam on Jul 20, 2019
Thank you for answering so quickly


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: lurielbank on Jul 20, 2019



Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes in the market are lemons (low quality), what fraction of used bikes sold will actually be lemons (low quality)?

▸ 8/30

▸ 8/22

▸ 22/30

▸ 30/30


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: joanamet on Jul 20, 2019
22/30


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: Yessi15 on Jul 20, 2019



Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes in the market are lemons (low quality), what fraction of used bikes sold will actually be plums (high quality)?

▸ 8/30

▸ 8/22

▸ 22/30

▸ 30/30


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: sadeen on Jul 20, 2019
8/30


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: Yessi15 on Jul 20, 2019
This site is awesome!


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: sadeen on Jul 20, 2019
:) Good luck on the rest


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: liljay on Jul 20, 2019



Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. Initially buyers believe that 50% of used bikes in the market are lemons (low quality). Compared to the outcome with neutral expectations, how many fewer bikes are sold in equilibrium?

▸ 8

▸ 12

▸ 18

▸ 22


Title: Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon
Post by: Va97001 on Jul 20, 2019
18