« previous next »

Author Question: More bidders increase the selling price in a second-price auction because a. the true values of the ... (Read 106 times)

Capo

  • Hero Member
  • *****
  • Posts: 545
on: Jul 1, 2018
More bidders increase the selling price in a second-price auction because
 a. the true values of the losers is higher
  b. the true value of the winner is higher
  c. bidders bid more aggressively
  d. bidders shade their bids by less

Question 2

When prices drop in response to a decline in demand for an increasing cost industry:
 a. producer surplus will increase but rents may decrease.
  b. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs.
  c. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs.
  d. both producer surplus and rents will increase.


bblaney

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

TrUe....FaLsE TrUe....FaLsE
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Decimal Point Place Values Decimal Point Place Values
Common Laboratory Tests and Their Normal Values Common Laboratory Tests and Their Normal Values
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Finding the graph of a Parabola using certain values Finding the graph of a Parabola using certain values
Video: ADH and the arterioles, kidneys, sweat glands and the Atrial natriuretic peptide (ANP)

For a complete list of videos, visit our video library