This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In a first-price sealed-bid auction, the winner pays A) its own, highest bid. B) the amount bid ... (Read 171 times)

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
on: Jul 1, 2018
In a first-price sealed-bid auction, the winner pays
 
  A) its own, highest bid.
  B) the amount bid by the runner-up.
  C) the average of the three highest bids.
  D) the common value.

Question 2

If average cost is positive,
 
  A) marginal cost equals average cost.
  B) marginal cost exceeds average cost.
  C) marginal cost is less average cost.
  D) Not enough information is provided.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

raili21

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
Reply #2 on: Jul 1, 2018
Correct answers!


raili21

  • Sr. Member
  • ****
  • Posts: 324
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Young adulthood brings the greatest number of role transitions and highest levels of demands than ... Young adulthood brings the greatest number of role transitions and highest levels of demands than ...
What are the highest virtues? What are the highest virtues?
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
Typical box used for the disposal of bagged, sealed, and autoclaved biological waste. Typical box used for the disposal of bagged, sealed, and autoclaved biological waste.
Preload is related to the amount of blood and stretching of the ventricular myocardial fibers Preload is related to the amount of blood and stretching of the ventricular myocardial fibers
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Chemical Synapse Animation

For a complete list of videos, visit our video library