Buyers in the market for used guitars are getting more pessimistic about the possibility of getting a good guitar. This will cause the price of used guitars to ________ and the percentage of good used guitars to ________.

Question

Quizplus · Accepted Answer

The increased pessimism among buyers will likely decrease demand, leading to lower prices. Additionally, with lower prices, sellers of good guitars may withdraw from the market, increasing the proportion of lower-quality guitars, hence the percentage of good used guitars decreases.

Buyers in the Market for Used Guitars Are Getting More