Home smart inc. is a chain of supermarkets that sells its products at higher prices than its competitors. yet, the supermarket chain has a large customer base due to its wide product portfolio and superior customer service. which of the following generic business strategies has home smart adopted in this scenario? a. market penetration b. cost-leadership c. differentiation product d. diversification

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