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 1159 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 all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

The Australian 20 cent coin features a platypus. The Australian 20 cent coin features a platypus.
In 1839 Mary Cragin, at the age of twenty-nine, became a convert to John Humphrey Noyes’s “communism In 1839 Mary Cragin, at the age of twenty-nine, became a convert to John Humphrey Noyes’s “communism
Ancient Babylonians Ancient Babylonians
Palette of King Narmer (front), Hierakonpolis, Upper Egypt. Palette of King Narmer (front), Hierakonpolis, Upper Egypt.
Palette of King Narmer (back), Hierakonpolis, Upper Egypt. Palette of King Narmer (back), Hierakonpolis, Upper Egypt.
Applying the bill of rights to the states Applying the bill of rights to the states
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library