The quality of a firm is represented by an index with values 0, 5, 10, 15, and 20. (a) If each index value is equally likely, what is the expected index value? (b) Suppose that the gain from trade equals k 5. What is the competitive market price of the firm? (c) Suppose that the seller knows the index value of his company for sure. Further as- sume that investors understand that the seller is perfectly informed. What is the competitive market price of the firm? The quality of a firm is represented by an index with values 0, 5, 10, 15, and 20. (a) If each index value is equally likely, what is the expected index value? (b) Suppose that the gain from trade equals k 5. What is the competitive market price of the firm? (c) Suppose that the seller knows the index value of his company for sure. Further as- sume that investors understand that the seller is perfectly informed. What is the competitive market price of the firm