China Imports Inc. sold 7,500 units in May. Per unit selling price and variable expense were $18 and $10, respectively. Fixed expense incurred for May totaled $46,000. Required: Prepare the May income statement for China Imports in the contribution margin format.

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold