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orengo orengo
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5 years ago
Suppose that everyone is risk neutral and buyers cannot identify the lemons. The expected value of a used car is $8,000.  No good cars will be sold in this market
A) unless the sellers of good cars place a value greater than $8,000 on their cars.
B) unless the sellers of lemons place a value greater than $8,000 on their cars.
C) unless sellers engage in cheap talk.
D) unless the sellers of good cars place a value lesser or equal to $8,000 on their cars.
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Microeconomics

Microeconomics


Edition: 8th
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arusha_mominarusha_momin
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5 years ago
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orengo Author
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5 years ago
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Thank you, thank you, thank you!
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