Refer to the scenario above. Suppose you decide to buy a Toyota ...

[ETearle]

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.

[Qarqy]

Answer to Question 1

B

Answer to Question 2

C

[ETearle]

Correct answers!

[Qarqy]

Great! Please up vote