In the long run, if housing prices are higher in San Diego, ...

[pragya sharda]

In the long run, if housing prices are higher in San Diego, California, versus Nashville, Tennessee, then
 a. individuals would move to Nashville
 b. individuals would move San Diego
 c. there would be no movement across the two cities, since the difference in prices is pure compensation for difference in living conditions
  d. Both B&C

Question 2

If the bidders at a second-price auction have true values of 78, 72, 66, and 65, the item will sell for
 a. 78
 b. just under 78
  c. 72
 d. just over 72

[Chelseyj.hasty]

Answer to Question 1

c

Answer to Question 2

c

[pragya sharda]

Thanks for the timely response, appreciate it

[tkempin]

Excellent