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Title: Suppose there are 100 buyers and 100 sellers in the used car market. Half of the sellers have a ... Post by: nurse15 on Nov 14, 2022 Suppose there are 100 buyers and 100 sellers in the used car market. Half of the sellers have a lemon to sell and half have a peach. Buyers value lemons at $4,000 and peaches at $11,000, while sellers value lemons at $3,400 and peaches at $8,250. Only sellers know if the car is a lemon or a peach. Suppose the current price of the car is $7,500. What is the total surplus in the market? If the sellers of peaches can get their cars certified for $800, what is total surplus in the market?
▸ $30,000.00, $167,500.00 ▸ $30,000.00, $167,450.00 ▸ $167,500.00, $167,450.00 ▸ $167,500.00, $30,000.00 Title: Suppose there are 100 buyers and 100 sellers in the used car market. Half of the sellers have a ... Post by: Boba155 on Nov 14, 2022 Content hidden
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