The optimal bidding strategy for a second-price auction is a. To ...

[HCHenry]

The optimal bidding strategy for a second-price auction is
 a. To bid your true value
  b. To shade your bid well below your true value
  c. To shade your bid just a little below your true value
  d. To size up your competition to determine how much to shade your bid

Question 2

Price controls:
 a. are always popular with consumers because they lower prices.
  b. create shortages.
  c. increase producer surplus because firms can now sell a greater quantity of a good at a lower price.
  d. are necessary to preserve equity.

[sabina576]

Answer to Question 1

a

Answer to Question 2

b

[HCHenry]

Thank you

[sabina576]

No problemo