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Two Types of Used Fender Stratocaster Guitars Are Available for Sale

question 152

Multiple Choice

Two types of used Fender Stratocaster guitars are available for sale: those made in the U.S.and those made in Mexico.It is impossible for the buyer to know which is which,but the seller knows.The value of a U.S.Stratocaster is $900 and the value of a Mexican Stratocaster is $400.The U.S.Stratocasters are 30% of Fender's production and the Mexican Stratocasters are 70% of production.No seller must sell a guitar for less than the guitar's value.
-Refer to the information above.Suppose that Fender discloses that a small stamp on the back of the guitar neck identifies its country of origin.Sellers of U.S.-made Stratocasters will now receive __________ because their claim of a U.S.-made Stratocaster is __________.

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Common Law

A legal system based on judicial decisions and precedent rather than statutory laws, originating in England and used in the United States.

Judicial Review

The power of courts to assess the constitutionality of laws and government actions, and to annul those found to violate the constitution.