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Business, 30.12.2019 22:31 kernlife

Assume that half of all used cars are of good quality and worth $8,000, while half of all used cars are of poor quality and worth $6,000.
if a buyer possessed no information about the quality of the car she was considering, what would she be willing to pay for the average used car that is put up for sale? a) $8,000b) $7,000c) $6,000d) the buyer would choose not to buy because of the lack of information.

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Assume that half of all used cars are of good quality and worth $8,000, while half of all used cars...
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