In New Crankshaft, Pennsylvania, there are 200 used cars for sale; 50% of these cars are good and 50% of them are lemons. Owners of lemons are…

In New Crankshaft, Pennsylvania, there are 200 used cars for sale; 50% of these cars are good and 50% of them are lemons.
Owners of lemons are willing to sell them for $500. Owners of good used cars are willing to sell them for prices above $1,500 but will keep them if the price is lower than $1,500.
There is a large number of potential buyers who are willing to pay $600 for a lemon and $2,300 for a good car.
Buyers are aware of the proportion of lemons offered for sale, but cannot tell good cars from bad.
There will be an equilibrium in which all used cars sell for more than $1,300.
There will be an equilibrium in which lemons sell for $600 and good used cars sell for $2,300.
There will be an equilibrium in which all used cars sell for less than $1,300.
d. The only equilibrium is one in which all used cars on the market are lemons and
they sell for $600.
e. There will be an equilibrium in which lemons sell for $500 and good used cars sell for $1,300.







Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Get 15% OFF on your FIRST order. Use the coupon code: new15