=+knew that you were getting a plum, you would be willing to pay $10,000 for it: this

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=+knew that you were getting a plum, you would be willing to pay $10,000 for it: this is how much a plum is worth to you. You would also be willing to buy a lemon, but only if its price was no more than $4,000: this is how much a lemon is worth to you. And someone who owns a plum would be willing to sell it at any price above $8,000. Someone who owns a lemon would be willing to sell it for any price

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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