Suppose That Buyers in the Used Refrigerator Market Are Willing

Multiple Choice

Suppose that buyers in the used refrigerator market are willing to pay $500 for a high-quality refrigerators and $200 for a low-quality refrigerators.If buyers believe that 50% of all used refrigerators are low-quality,what is the maximum price they would be willing to pay for a used refrigerator?

A) $200
B) $340
C) $350
D) $500