Overbidding in a second-price sealed-bid auction is likely to ...

[jho37]

Overbidding in a second-price sealed-bid auction is likely to result in a ________.
 
  A) negative consumer surplus
  B) positive consumer surplus
  C) zero producer surplus
  D) negative producer surplus

Question 2

In the figure above, suppose the government provides vouchers worth 15,000 per student per year. Then the market equilibrium occurs at a tuition of ________ a year and ________ million students.
 
  A) 10,000; 15
  B) 25,000; 15
  C) 15,000; 15
  D) 15,000; 7.5
  E) 20,000; 20

[Mollythedog]

Answer to Question 1

A

Answer to Question 2

A

[jho37]

TYSM

[DylanD1323]

Excellent