Suppose that buyers are willing to pay $8,000 for a plum used car and $2,000 for a lemon.If buyers expect 70% of the used cars to be lemons,what is the maximum amount that buyers will be willing to pay for a used car?

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The Answer of Suppose that buyers are willing to pay $8,000 for a plum used car and $2,000 for a lemon.If buyers expect 70% of the used cars to be lemons,what is the maximum amount that buyers will be willing to pay for a used car?

Suppose That Buyers Are Willing to Pay $8,000 for a Plum