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nurse15 nurse15
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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
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Macroeconomics

Macroeconomics


Edition: 3rd
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nurse15 Author
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A year ago
Brilliant ツ
shelbycox
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Yesterday
This helped my grade so much Perfect
shelbycox
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2 hours ago
Thank you, thank you, thank you!
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