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Econ_How much would a consumer be willing to pay for a second-hand car
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How much would a consumer be willing to pay for a second-hand car? From the scenario, the consumer would will to purchase the car using equivalent variation (EV) EV = 1/2 (5000) + 1/2 (3500) EV = 2500 + 1750 EV = 4250 Therefore, the client is willing to pay
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