You would like to buy a used car. suppose there are three types of quality (a): low (a = 0), medium (a = 1) and high (a = 3), each equally likely (i. e. each with probability 1 3 ). only the seller knows the exact quality of his/her car. also suppose that for any quality of the car, your utility is 1.6 times the seller’s utility, that is, for a car of quality a, the seller’s utility from it is a, but your utility from it is 1.6ai) the market price for a used car is p. for what values of p, all three types of sellers want to sell? for what values of p, exactly two types want to sell? for what values of p, only one type wants to sell?

Read the overview below and complete the activities that follow.apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps.concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them.match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap