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Mairoon Mairoon
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7 years ago
The market for used cars is shown in the above figure. Buyers cannot tell whether any given car is a lemon. Forty percent (40%) of all cars are lemons. Which of the following statements is true?
A) All of the cars will be sold.
B) No cars will be sold.
C) Only lemons will be sold.
D) Ten percent of the used cars sold will be lemons.
Textbook 
Microeconomics

Microeconomics


Edition: 6th
Author:
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LBCeaLBCea
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Mairoon Author
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#2
6 years ago
Perfect
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