« previous next »

Author Question: A small town in West Texas has one gas station. If the price of oil increases, the price of gas that ... (Read 66 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jul 1, 2018
A small town in West Texas has one gas station. If the price of oil increases, the price of gas that the station charges will most likely
 a. increase.
 b. decrease.
 c. remains the same.
 d. may increase or decrease.

Question 2

In common value auctions
 a. Every bidder know the value of the object being sold
 b. Each bidder makes their own 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


atrochim

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

The Green Pygmy Goose (Nettapus pulchellus) is a small perching duck which breeds in southern New Gu The Green Pygmy Goose (Nettapus pulchellus) is a small perching duck which breeds in southern New Gu
Alan Price - Poor People Alan Price - Poor People
Baby Station Baby Station
Japanese Relocation from the West Coast, 1942–1945 Japanese Relocation from the West Coast, 1942–1945
Small Town USA: Struggling to Survive Small Town USA: Struggling to Survive
Map depicting the 2010 West Nile virus infections. Map depicting the 2010 West Nile virus infections.
Video: Mendel's Principles of Inheritance (Father of Genetics)

For a complete list of videos, visit our video library