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 1151 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?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Tutankhamun Hunting Ostriches from His Chariot, base of the king's ostrich-feather fan. Tutankhamun Hunting Ostriches from His Chariot, base of the king's ostrich-feather fan.
Palette of King Narmer (front), Hierakonpolis, Upper Egypt. Palette of King Narmer (front), Hierakonpolis, Upper Egypt.
King Khafre, Giza, Egypt. King Khafre, Giza, Egypt.
Bill Viola, The Reflecting Pool. Bill Viola, The Reflecting Pool.
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 ...
The Ancient Near East The Ancient Near East
Video: Supine Position

For a complete list of videos, visit our video library