Marcy and liz developed a new jewelry design. they were fortunate to get the attention of a large online retailer who was willing to fund the production of the jewelry abroad, as long as the designers agreed to sell their design through its outlets for the first two years. the retailer was asking the designers to agree to

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