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Author Question: In common value auctions a. Bidder do not know the value of the object being sold b. Each bidder ... (Read 117 times)

jasdeep_brar

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on: Jul 1, 2018
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.


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patma1981

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

a

Answer to Question 2

d


jasdeep_brar

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

billybob123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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