In a market for used cars, if the minimum supply price for plums is lower than consumers' willingness to pay for a lemon, only plums will be supplied at the consumers' willingness to pay for a lemon.
Answer the following statement true (T) or false (F)
False
Economics
You might also like to view...
Eurodollar deposits arising from OPEC trade surpluses are called
A) OECD-dollars. B) OPEC-dollars. C) petrodollars. D) None of the above.
Economics
A point inside a production possibilities curve reflects
a. the law of increasing costs b. technological innovation c. less than full use of resources and technology d. economic efficiency e. a way to increase future economic growth
Economics
Which of the following is a merit good?
A. Health care. B. Electricity. C. Automobiles. D. Local telephone service.
Economics
You purchase a good by writing a check for $1,000. Considering the financial payments system this check follows, when is the check money? Explain.
What will be an ideal response?
Economics