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Consider the used car market with imperfect information. There are 5 bad quality cars demons) and 5 good quality cars. The value of a tad

Consider the used car market with imperfect information. There are 5 bad quality cars demons) and 5 good quality cars. The value of a tad ca $7,000 and the value of a good car is $16.000. What is the ectal bride price?

$7,000

$11.500

$15.100

512300

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