Business, 20.06.2020 15:57, anthonybowie99
Consider a second hand car market where three types of cars are being sold: High quality (H), medium quality (M) and low quality (L). Sellers value an H at $2000, an M at $1200 and an L at $800, whereas buyers value an H at $1800, an M at $1600 and an L at $1400. As discussed in the āAkerloļ¬ās Lemons Marketā, sellers are able to distinguish between diļ¬erent quality cars but buyers are not and a buyer believes that in this market 40% of the cars is an H, 30% of the cars is an M and 30% of the cars is an L.
a) Determine which type of cars will be sold at the eļ¬cient allocation.
b) Determine which type of cars will be sold at the market equilibrium.
Answers: 2
Business, 22.06.2019 06:30, Shavaila18
Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods
Answers: 1
Business, 22.06.2019 11:00, mateoperkins
What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b. assessment criteria are inexpensive. c. assessment criteria provide you with a list of relevant things to measure. d. assessment criteria provide you with a list of people to contact to learn more about process mentoring.
Answers: 3
Business, 22.06.2019 11:30, brucewayne390
Schonhardt corporation's relevant range of activity is 2,500 units to 5,500 units. when it produces and sells 4,000 units, its average costs per unit are as follows: averagecost per unitdirect materials $ 7.60direct labor $ 2.90variable manufacturing overhead $ 1.65fixed manufacturing overhead $ 2.90fixed selling expense $ 0.95fixed administrative expense $ 0.65sales commissions $ 0.75variable administrative expense $ 0.65if 4,500 units are produced, the total amount of fixed manufacturing cost incurred is closest to: multiple choicea $16,800b $11,400c $11,600d $15,400
Answers: 3
Consider a second hand car market where three types of cars are being sold: High quality (H), medium...
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