Microeconomics, Student Value Edition (2nd Edition)
2nd Edition
ISBN: 9780134461786
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Question
Chapter 16, Problem 3P
(a)
To determine
Types of sellers willing to sell at
(b)
To determine
Reason for failure of
(c)
To determine
A way for mattresses with no bed bugs to be sold.
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Students have asked these similar questions
It is rational for someone who wants to sell a lemon to offer the buyer a money-back guarantee. explain
True
False
Imagine a market for used computers. There are two types of computers: good and bad. Also imagine that there are 50% of each on the market.
Buyers can imagine paying 5,000 for a good computer and 1,000 for a bad computer
Sellers want at least 4000 for a good computer and 1500 for a bad computer
Assume that the buyer thinks that there is a 50% probability that the computer is of poor quality. What is the expected value and price of a computer that the buyer most wants to pay?
Q1. Insurance works by spreading risk over -
a.
the uninsured
b.
a few people
c.
several insurance companies
d.
Many people
Q2.
Determining the risk associated with a particular group or activity is called -
a.
discounting
b.
risk determination
c.
forecasting
d.
underwriting
Chapter 16 Solutions
Microeconomics, Student Value Edition (2nd Edition)
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Similar questions
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