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Other Fields Homework Help Economics Topic started by: mdagenh1 on Jul 20, 2019



Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: mdagenh1 on Jul 20, 2019



Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. If buyers believe that 50% of used digital cameras in the market are lemons (low quality), what is consumers' willingness to pay ($W)?

▸ $100

▸ $200

▸ $300

▸ $400


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: vvnluu on Jul 20, 2019
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Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: nyounger on Jul 20, 2019



Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. If buyers believe that 50% of used digital cameras in the market are lemons (low quality), how many plums will be supplied by sellers?

▸ 50

▸ 60

▸ 150

▸ 200


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: amw87470 on Jul 20, 2019
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Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: nyounger on Jul 20, 2019
Thanks


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: Clement on Jul 20, 2019



Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. If buyers believe that 50% of used digital cameras in the market are lemons (low quality), what percent of used digital cameras sold will actually be lemons? (low-quality)?

▸ 25%

▸ 50%

▸ 75%

▸ 100%


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: NicoleLove on Jul 20, 2019
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Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: Famwam on Jul 20, 2019



Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. Initially buyers believe that 50% of used digital cameras in the market are lemons (low quality). Compared to the outcome with neutral expectations, how many fewer digital cameras are sold in equilibrium?

▸ 90

▸ 110

▸ 140

▸ The number of cameras sold in equilibrium is the same as the outcome with neutral expectations.


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: getdh on Jul 20, 2019
140


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: Famwam on Jul 20, 2019
Thank you


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: dskmvld on Jul 20, 2019



Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. At any price between $X and $Z:

▸ only plums will be supplied.

▸ only lemons will be supplied.

▸ both plums and lemons will be supplied

▸ neither plums nor lemons will be supplied.


Title: The figure represents the market for used 12 megapixel digital cameras. Suppose buyers are willing ...
Post by: qwer34 on Jul 20, 2019
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