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

Author Question: Refer to the scenario above. Suppose you decide to buy a Toyota Corolla. You value the car for ... (Read 50 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
on: Jun 29, 2018
Refer to the scenario above. Suppose you decide to buy a Toyota Corolla. You value the car for 10,000. You don't know it, but the car dealer values it for 8,500. Which of the following is likely to be true?
 
  A) You will end up buying a high-quality car.
  B) You will end up buying a bad-quality car.
  C) You will end up earning a positive consumer surplus.
  D) You will choose not to buy the car.

Question 2

High money prices for scarce goods
 
  A) are one among many possible causes of their scarcity.
  B) are the basic cause of their scarcity.
  C) are the effect of their scarcity.
  D) have nothing to do with their scarcity, because almost all goods are scarce.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Qarqy

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


ETearle

  • Hero Member
  • *****
  • Posts: 580
Reply #2 on: Jun 29, 2018
Correct answers!


Qarqy

  • Sr. Member
  • ****
  • Posts: 313
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

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.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

A hypothetical scenario illustrating the process of chemical selection A hypothetical scenario illustrating the process of chemical selection
Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ... This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ...
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library