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You are a market maker for used iPhone 14. Suppose that I want to sell you a used iPhone 14 for only $100, significantly below

You are a market maker for used iPhone 14. Suppose that I want to sell you a used iPhone 14 for only $100, significantly below the price of a new iPhone 14 ($800) and the price of an used iPhone 14 on eBay ($300). Explain how you can still lose money from this transaction

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