5.Economic rent 6.Inferior good 7.Sequential game 8.Intertemporal price discrimination 9Welfare effects 10 Zero economic profit 得分阅卷教师 二、简答题：（共10分） 1.Faced with a reputation for producing automobiles with poor repair records,a number of American companies have offered extensive guarantees to ear purchasers(e.g.a seven-year warranty on all parts and labor associated with mechanical problems) a.In light of your knowledge of the lemons market,why is this a reasonable policy? b.Is the policy likely to create a moral hazard problem?Explain. 5. Economic rent 6. Inferior good 7. Sequential game 8. Intertemporal price discrimination 9 Welfare effects 10 Zero economic profit 二、简答题：（共 10 分） 1. Faced with a reputation for producing automobiles with poor repair records, a number of American companies have offered extensive guarantees to car purchasers (e.g., a seven-year warranty on all parts and labor associated with mechanical problems). a. In light of your knowledge of the lemons market, why is this a reasonable policy? b. Is the policy likely to create a moral hazard problem? Explain. 得分 阅卷教师