This topic contains a solution. Click here to go to the answer

Author Question: In common value auctions a. Bidder do not know the value of the object being sold b. Each bidder ... (Read 116 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
In common value auctions
 a. Bidder do not know the value of the object being sold
  b. Each bidder makes the same estimate of the value of the good
  c. All bidders know the estimates of the others
  d. The true value of the item differs across bidders

Question 2

In an economy consisting of only two goods, corn and cloth, the amount of extra cloth that can be produced efficiently if corn output is reduced by one unit is equal to:
 a. the rate of technical substitution for corn divided by the rate of technical substitution for cloth.
  b. the rate of technical substitution for cloth divided by the rate of technical substitution for corn.
  c. the marginal cost of producing cloth divided by the marginal cost of producing corn.
  d. the marginal cost of producing corn divided by the marginal cost of producing cloth.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

patma1981

  • Sr. Member
  • ****
  • Posts: 292
Answer to Question 1

a

Answer to Question 2

d




jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jul 1, 2018
:D TYSM


Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

For a complete list of videos, visit our video library