%3Cp%3E%3Cspan%20class%3D%22c1%22%3EYou%20would%20like%20to%20buy%20a%20used%20c

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%3Cp%3E%3Cspan%20class%3D%22c1%22%3EYou%20would%20like%20to%20buy%20a%20used%20car.%20Suppose%20there%0Aare%20three%20types%3C%2Fspan%3E%3C%2Fp%3E%0A%3Cp%3E%3Cspan%20class%3D%22c1%22%3Eof%20quality%20(a)%3A%20low%20(a%20%3D%200)%2C%20medium%20(a%20%3D%201)%20and%0Ahigh%20(a%20%3D%202)%2C%20each%20equally%3C%2Fspan%3E%3C%2Fp%3E%0A%3Cp%3E%3Cspan%20class%3D%22c1%22%3Elikely%20(i.e.%20each%20with%20probability%0A1%2F3)%3C%2Fspan%3E%3Cspan%20class%3D%22c1%22%3E.%20Only%20the%20seller%20knows%20the%20exact%0Aquality%3C%2Fspan%3E%3C%2Fp%3E%0A%3Cp%3E%3Cspan%20class%3D%22c1%22%3Eof%20his%2Fher%20car.%20Also%20suppose%20(as%20in%20class)%20that%0Afor%20any%20quality%20of%20the%20car%2C%20your%20utility%20is%201.5%20times%20the%20seller%E2%80%99s%0Autility%2C%20that%20is%2C%20for%20a%20car%20of%20quality%3C%2Fspan%3E%20%3Cspan%20class%3D%0A%22c2%22%3Ea%2C%3C%2Fspan%3E%20%3Cspan%20class%3D%22c1%22%3Ethe%20seller%E2%80%99s%20utility%20from%20it%0Ais%3C%2Fspan%3E%20%3Cspan%20class%3D%22c2%22%3Ea%2C%3C%2Fspan%3E%20%3Cspan%20class%3D%22c1%22%3Ebut%20your%0Autility%20from%20it%20is%201.5a%3C%2Fspan%3E%3C%2Fp%3E%0A%3Cp%3E%3Cbr%20%2F%3E%3C%2Fp%3E%0A%3Cp%3E%3Cbr%20%2F%3E%3C%2Fp%3E%0A%3Cp%3E%3Cspan%20class%3D%22c1%22%3E(i)%20The%20market%20price%20for%20a%20used%20car%20is%3C%2Fspan%3E%0A%3Cspan%20class%3D%22c2%22%3Ep.%3C%2Fspan%3E%20%3Cspan%20class%3D%22c1%22%3EFor%20what%20values%0Aof%3C%2Fspan%3E%20%3Cspan%20class%3D%22c2%22%3Ep%2C%3C%2Fspan%3E%20%3Cspan%20class%3D%22c1%22%3Eall%20three%0Atypes%20of%20sellers%20want%20to%20sell%3F%20For%20what%20values%20of%3C%2Fspan%3E%0A%3Cspan%20class%3D%22c2%22%3Ep%2C%3C%2Fspan%3E%20%3Cspan%20class%3D%22c1%22%3Eexactly%20two%20types%20want%0Ato%20sell%3F%20For%20what%20values%20of%3C%2Fspan%3E%20%3Cspan%20class%3D%22c2%22%3Ep%2C%3C%2Fspan%3E%0A%3Cspan%20class%3D%22c1%22%3Eonly%20one%20type%20wants%20to%20sell%3F%3C%2Fspan%3E%3C%2Fp%3E%0A

Explanation / Answer

I dont see your question perhaps try and retyping it properly?

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