In the used car market, asymmetric information leads to the lemons problem because the price that buyers are willing to pay will
A) reflect the highest quality of used cars in the market.
B) reflect the lowest quality of used cars in the market.
C) reflect the average quality of used cars in the market.
D) none of the above.
C
Business
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A corporate culture can be defined as ______.
a. a set of values, beliefs, goals, norms, and ways to solve problems that employees of an organization share. b. a set of rules that some employees agree to obey. c. the interpersonal relationships in the organization. d. the working environment in the executive suite. e. the perceived importance of an ethical issue to the government.
Business
If market value of an impaired asset recovers after an impairment has been recognized, the impairment may be reversed in a subsequent period.
a. true b. false
Business