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Author Question: What does the revenue equivalence theorem state? What will be an ideal ... (Read 13 times)

lb_gilbert

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on: Jun 29, 2018
What does the revenue equivalence theorem state?
 
  What will be an ideal response?

Question 2

When an economy produces at its allocatively efficient production point
 
  A) scarcity is not a problem.
  B) resources are not limited.
  C) a society can increase the production of all goods.
  D) a society can increase the production of one good only by decreasing the production of some other good that is valued more highly.


tranoy

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The revenue equivalence theorem states that under certain assumptions all four types of auctions are expected to raise the same revenues.

Answer to Question 2

D


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