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 1137 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?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Cavalier King Charles Spaniel Cavalier King Charles Spaniel
Persian leopard (Panthera pardus ciscaucasica), also called Caucasian leopard Persian leopard (Panthera pardus ciscaucasica), also called Caucasian leopard
Ancient Warming Shrunk Horses to Housecat Size Ancient Warming Shrunk Horses to Housecat Size
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 Greeting. Bill Viola, The Greeting.
Testing stereognosis by using a coin Testing stereognosis by using a coin
Video: Deafness Culture

For a complete list of videos, visit our video library