This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Bill sells Mary a worthless coin that Bill deviously told Mary "belonged to an ancient Persian king ... (Read 1210 times)

CharlieWard

  • Hero Member
  • *****
  • Posts: 578
on: Apr 19, 2019

Question 1

Imperfect information on the part of buyers and sellers


◦ will not stop the economy from achieving market efficiency, assuming the other conditions for market efficiency hold.
◦ is no longer a problem because the "truth-in-advertising" regulations have been instituted.
◦ remains a barrier to achieving market efficiency, at least in some industries.
◦ cannot persist in a market economy.

Question 2

Bill sells Mary a worthless coin that Bill deviously told Mary "belonged to an ancient Persian king and is of enormous value to coin collectors." Economists would call this an


◦ efficient exchange, as any type of voluntary exchange promotes efficiency.
◦ inefficient exchange, as at least one party used false market information.
◦ efficient exchange, assuming Bill was not intentionally trying to trick Mary.
◦ inefficient exchange because there were externalities involved.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by CharlieWard on Apr 19, 2019

Mollythedog

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 32% of students answer this correctly


Shadow 4949

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Dec 1, 2020
thank you


Nigel Lancaster

  • Newbie
  • *
  • Posts: 1
Reply #3 on: Dec 3, 2020
thank you


Daniel Adesina

  • Newbie
  • *
  • Posts: 2
Reply #4 on: Jul 14, 2022
thank you


cantis bantis

  • Newbie
  • *
  • Posts: 1
Reply #5 on: Jul 13, 2023
Thank you


« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

A king cheetah showing its distinctive coat pattern A king cheetah showing its distinctive coat pattern
Head of a King (Oni), Ife culture, Nigeria. Head of a King (Oni), Ife culture, Nigeria.
Eleanor Antin, My Kingdom Is the Right Size, from the series The King of Solana Beach. Eleanor Antin, My Kingdom Is the Right Size, from the series The King of Solana Beach.
According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ... According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ...
Ancient applications of genetics Ancient applications of genetics
Ancient Bristlecone Pine Ancient Bristlecone Pine
Video: Medullary osmotic gradient - influencing factors

For a complete list of videos, visit our video library