Author Question: Goods that are used for the production of other goods are referred to as: A) consumer durable ... (Read 78 times)

bobypop · **on:** Jun 29, 2018

Goods that are used for the production of other goods are referred to as:

A) consumer durable goods.
B) consumer capital.
C) physical capital.
D) public goods.

Question 2

A cruiser bike is being auctioned in a first-price sealed-bid auction. You always wanted to own a cruiser bike, and therefore decide to participate in the auction. You value the bike at 4,000.

On the day of the auction, you see that there are 70 other bidders. Your optimal bid in this case is ________. A) 3,500
B) 3,000
C) 4,000
D) 3,944