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Author Question: In a first-price sealed-bid auction, ________. A) bidders submit their bids privately B) bidders ... (Read 40 times)

bobbysung

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on: Jun 29, 2018
In a first-price sealed-bid auction, ________.
 
  A) bidders submit their bids privately
  B) bidders place their bids one after another publicly
  C) bidders know each other's bids
  D) bidders bid above their willingness to pay

Question 2

If there exists a shortage in the market for snowmobiles, then the price of a snowmobile will
 
  A) rise.
  B) fall.
  C) neither rise nor fall.
  D) at first fall then rise.


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cam1229

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


bobbysung

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  • Posts: 519
Reply 2 on: Jun 29, 2018
Excellent

FergA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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