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Suppose you are a buyer. Your buyer value for a high-quality good is $35 and for

Economics
Tutor: None Selected Time limit: 1 Day

Suppose you are a buyer. Your buyer value for a high-quality good is $35 and for a low-quality good is $28. A seller offers a low-quality good for $22. What is your potential gain or loss?

Nov 9th, 2014

Potential gain =28-22 = 6

Answer: $6

Nov 9th, 2014

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