Multiple Choice
Suppose that buyers in the used electric washer market are willing to pay $100 for a high-quality electric washer and $50 for a low-quality electric washer.If buyers believe that 70% of all used electric washer are low-quality,what is the maximum price they would be willing to pay for a used electric washer?
A) $35
B) $50
C) $65
D) $70
Correct Answer:
Verified
Correct Answer:
Verified
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