If an economist refers to a lemons market what you infer

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Q. If an economist refers to a ‘lemons market,' what should you infer? A. She is referring to a market for fruit. B. She is referring to any market with asymmetric or hidden information. C. She is referring to a market where sellers of high-quality goods withhold their products from market so most goods that are bought and sold are lemons. D. She is referring to any market where a transaction could leave buyers with a bad taste. 7. Lorenz Curve Suppose a society has two individuals. One has annual income $10000, or has annual income $90000. What is Gini coefficient for this society?

Reference no: EM1369519

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