Suppose that there are 6 qualities of car, q, equal to 0, 1/4, 1/2, 3/4, 1, 5/4, 3/2, 7/4, and 2. one thousand people currently own each quality of car and there are as many people interested in buying them. the value of the cars to the people that currently own them is given by 2000*q. prospective buyers are willing to pay 3000*q.

i) suppose that buyers and sellers know the quality of each car. what is the competitive market price for each quality of car? do all cars get sold? price for each car? do all cars get sold? price for each car? do all cars get sold? carefully show your reasoning.
ii) suppose that neither buyer nor seller can observe the quality of the car. what is the competitive market
iii) suppose that the sellers know the quality of the car they have to sell. what is the competitive market
iv) the market described in part iii above is usually called adverse selection (also the market for lemons). describe some institutions that might evolve to fight the adverse selection problem for used cars.

Employers hiring for entry-level positions in hospitality and tourism expect workers to

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

On analyzing her company’s goods transport route, simone found that they could reduce transport costs by a quarter if they merged different transport routes. what role (job) does simone play at her company? simone is at her company.