You are in the market for a used car and decide to visit a used-car dealership. You know that the Blue Book value of the car you are looking at is between $20,000 and $24,000. If you believe the dealer knows as much about the car as you do, how much are you willing to pay

$22,000

Explanation:

In this case, both you and the dealer have the same information about the car, meaning that information is symmetrically distributed. Since the value of the car is between $20,000 and $24,000, you should be willing to pay ($20,000 + $24,000) / 2 = $22,000

If the car dealer had more information than you, then you should be willing to pay the lower price $20,000.

answer; /// egg production using the factory technique falls less than with the free range technique;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.