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In a market for used cell phones, buyers value type H at $800 and type L at $500, while sellers value type H at $650
In a market for used cell phones, buyers value type H at $800 and type L at $500, while sellers value type H at $650 and type L at $420. Assume information is perfect. In this case, a type H cell phone should sell at a price PH where _____ PH _____
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