Buyers anticipate that the temporary warehouse seller of unbranded computer equipment will
a. deliver high quality products consistent with expectations
b. not attempt to establish any warranty enforcement mechanisms
c. offer several prices and qualities
d. produce only one quality
e. none of the above
d
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The above figure shows the Lorenz curves for four different countries. Which of the following statements is FALSE?
A) Country A has an income distribution that is not perfectly equal. B) Country D's income distribution is the most unequal of the four countries. C) The distribution of income is more unequal in country A than in country B. D) The distribution of income is more unequal in country D than in country C.
The relationship between the value and the price of a stock suggests that
A. the equilibrium price of a stock strikes a balance between those who think the stock is worth more and those who think the stock it's worth less at the current price. B. it is the stock market's best guess regarding the expected value of the company's future profits. C. stocks are overvalued. D. both A and B are true.