1.Consider a thin used-car market. Someone just developed a device that can instantly identify the nearest plum in a used-car lot. The device works only once. The maximum amount that a consumer would...

1.Consider a thin used-car market. Someone just developed a device that can instantly identify the nearest plum in a used-car lot. The device works only once. The maximum amount that a consumer would be willing to pay for the device equals
  minus
 .

2. A money-back guarantee will be provided by the owners of
, but not by the owners of

 (lemons/plums). 2.3 Arrows up or down: Government regulations for kiwifruit the average quality and the price of kiwifruit. (Related to Application 2 on page 647.)