Solution for QID #2763: 1)Which of the following is true? A. Public goods are gen | StudyHelpMe

1)Which of the following is true? A. Public goods are generally paid for by the government with tax revenues. B. Public goods are generally paid for by voluntary contributions. C. None of these 2)Consider a market used for cars in which buyers would pay up to $18,000 for an orange (good used car) and $8,000 for a lemon. The owners of oranges will accept no less than $12,500 while owners of lemons will accept no less than $3,000. Assume that buyers always end up paying their full willingness to pay and that the fraction of oranges in the population is known to be ff. If sellers observe the type of car but buyers can't, what is the minimum value of ff such that the market for oranges does not collapse?