(2) If all Gregs friends bought lemons, Greg might expect to buy a lemon too and be...

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(2) If all Greg’s friends bought lemons, Greg might expect to buy a lemon too and be willing to pay $10,000—his marginal benefit from a lemon.

The demand curve for lemons is D .

The demand curve for used cars of unknown quality lies between D and D .



G L

G L G

L L

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Nov 11, 2024 10:06 AM

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Foundations Of Microeconomics

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