Question: need correct answer, 50,000 is incorrect previous question need answer different from 50,000- it was not correct Referring to the information the prior question: Now,

Referring to the information the prior question: Now, you believe the dealer knows more about the cars than you do. What price will you ultimately be willing to pay for the car? Please answer in dollars. You are in the market for a used car. At a used car lot, you know the blue book value for the type of cars that you are looking at range from $40k to $50k. If you believe the dealer knows as much as you do about the cars as you do, what are you willing to pay in \$s assuming the car values are symmetrically distributed
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
