Solved

Table 91
-In Table 9

Question 30

Multiple Choice

 Markets  Plums highquality)   Supplied  Lemonslow quality)   Supplied  % Buyers Believe are  Lemonslow quality)  1101550%212840%3151550%\begin{array}{cccc}\hline \text { Markets } & \begin{array}{l}\text { Plums highquality) } \\\text { Supplied }\end{array} & \begin{array}{l}\text { Lemonslow quality) } \\\text { Supplied }\end{array} & \begin{array}{c}\text { \% Buyers Believe are } \\\text { Lemonslow quality) }\end{array} \\\hline 1 & 10 & 15 & 50 \% \\2 & 12 & 8 & 40 \% \\3 & 15 & 15 & 50 \%\\\hline \end{array}
Table 9.1
-In Table 9.1, market 1 would be in equilibrium if buyers believed lemons accounted for:


A) 60% of the market.
B) 55% of the market.
C) 45% of the market.
D) 40% of the market.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents