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Author Question: Intense market competition is ________ for producers, since it_______. a. Bad; erode consumer ... (Read 56 times)

bio_gurl

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on: Jul 1, 2018
Intense market competition is ________ for producers, since it_______.
 a. Bad; erode consumer surplus
 b. Bad, erode producer profits
 c. Good, increase the price level in the market
  d. Good; decrease the price level in the market

Question 2

In a common-value auction
 a. No bidder knows what the exact value of the item being auctioned
  b. Each bidder has only an estimate of the value of the item
 c. The value is the same for each bidder
 d. All of the above


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diana chang

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


bio_gurl

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Bigfoot1984

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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