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MrGrimey MrGrimey
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6 years ago
The market for used cars is shown in the above figure. Buyers cannot tell whether any given car is a lemon. Ten percent (10%) of all cars are lemons. Which of the following statements is TRUE?
A) All of the cars sell for $1,900.
B) Only lemons are sold for $1,900.
C) Only lemons are sold for $1,000.
D) Only good cars will be sold for $2,000.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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RumkoRumko
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#1
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6 years ago
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