Figure 9.1 -Figure 9.1 Represents the Market for Used Bikes. Suppose Buyers

Multiple Choice

Figure 9.1
-Figure 9.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers have pessimistic expectations about the used bikes in the market, how many used plums (high-quality used bikes) will be sold?

A) 0
B) 8
C) 12
D) 16