This topic contains a solution. Click here to go to the answer

Author Question: Refer to the scenario above. Suppose you decide to buy a Toyota Corolla. You value the car for ... (Read 86 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
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
Answer to Question 1

B

Answer to Question 2

C




Qarqy

  • Sr. Member
  • ****
  • Posts: 313

 

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

For a complete list of videos, visit our video library