The auto repair shop of quality motor company uses standards to control the labor time and labor cost in the shop, thestandard labor cost for a motor tune-up is given below: job standard standard standardhours rate costmotor tune-up s 9.00 s 2250the record showing the time spent in the shop last week on motor tune-ups has been misplaced. however, the shopsupervisor recalls that 50 tune

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold