What are factors of production?
a.
all the human efforts involved in the production process
b.
all the resources used to produce any goods and services
c.
all the physical tools and equipment used in the production process
od.
all the naturally occurring resources found in land, air, and water

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold