Market for Lemons! Sarah is looking to buy a new car! She goes to a new car dealership to shop for cars and is willing t
Posted: Mon May 09, 2022 12:51 pm
Market for Lemons! Sarah is looking to buy a new car! She goes to a new car dealership to shop for cars and is willing to pay up to $25.000 for a new car. Locky for her, there are a number of new cars on the lot listed for $21.000. However, the market for new cars is very competitive and she understands that she may have to negotiate a sale price above the sticker price. Additionally, she knows that because the cars are new, there is a low probability that the car she buys will be a lemon, but it's not zero, She is willing to pay up to $20.000 for a lemon and the dealership is willing to sell her a lemon below the sticker price 519.0001 Upload a picture of this game.