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 2433 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?

Everyone has one nostril that is larger than the other.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Male killer whale depicted in St Mary's in Greifswald, Germany, 1545 Male killer whale depicted in St Mary's in Greifswald, Germany, 1545
King Shepherd King Shepherd
Blue-Eyed Mary Blue-Eyed Mary
Young Bill Clinton (left) shakes hands with President John F. Kennedy. “The torch has been passed ... Young Bill Clinton (left) shakes hands with President John F. Kennedy. “The torch has been passed ...
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 ...
Video: Stomach peristalsis - Movement of Food Through the Small Intestine

For a complete list of videos, visit our video library