Multiple Choice
Consider a used car market in which half the cars are good and half are bad (lemons) .A rational buyer in this market should
A) offer to pay a price equal to the most she would pay for a good car.
B) offer to pay a price equal to the most she would pay for a lemon.
C) offer to pay a price somewhere between the price she would pay for a good car and the price she would pay for a lemon.
D) save up and buy a new car.
Correct Answer:
Verified
Correct Answer:
Verified
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