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Paying for Information. You are willing to pay $7,000 for a high-quality car a plum. The current price of used cars is $4,000, and 4 of 5 cars in the market are lemons, meaning that 1 in 5 is a plum.
a. Suppose you could pay a finders fee to a personal shopper/mechanic who will find you a plum at a price of $4,000. What is the maximum you are willing to pay as a finders fee?
b. As you shop for a used car, you will bring each car you consider to your mechanic, who will thoroughly inspect the car and tell you for certain whether it is a plum or a lemon. If the price per inspection is $400, is it worth the money?
c. How would your answer to part (b) change if only 1 out of 10 used cars was a plum?
Write the auditor's opinion if adequate disclosure is not made.
Analysts at the Fleetfeet Corporation estimate a demand function for its athletic shoe line to be: Qf = 5 - 2.4*Pf + 0.7*A + 0.002*I + 0.8*Ps Where Qf = the quantity of shoes sold, Pf = the own price of shoes produced by Fleetfeet ($/pair)
an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.using a diagram how these events will affect the economy production possibility curve
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals.
Year Units of Output Price Per Unit 1 3 3 2 4 4 3 6 5 4 7 7 5 8 8 1. Refer to the above data. If year 3 is chosen as the base year, what is the price index for year 2. Refer to the above data. What is the nominal GDP for year 4
Imagine a manufacturing industry that produces 100 million units of compact digital cameras annually in the US market. Suppose the minimum efficient scale (MES) for the production of digital cameras is 10 million units annually.
What is the opportunity cost of future growth?
In 1984, Walt Disney brought in Michael Eisner, a Paramount executive as CEO. The firm's board of directors agreed to pay Eisner a salary of $750,000 plus a $750,000 bonus for signing on, plus an annual bonus equal to 2 percent of ..
The DOJ does not observe firms costs and therefore assumes that marginal costs are constant and equal to c1, c2, and c3 in the three markets. a. If firms in M2 or M3 are colluding, what price will we observe
which requires at $10,000 license fee to use their design. Tooling costs $5000. Materials and consumables (cutting fluids, milling cutters, power, etc) are budgeted at $40 per product. Your company applies an overhead rate of 25% on all direct cos..
An investor purchased 100 shares of Omega common stock for 10,000. He held the stock for nine years. For the first four years he received annual end-of-year dividends of $1,000. For the next four years he received annual dividends
If Adi believes that Jill will abide by their collusive agreement and perform only three surgeries, find a number of surgeries that Adi could perform that would maximize his profits.
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