Refer to the scenario above. If the starting bid is 250, ________ ...

[joe]

Refer to the scenario above. If the starting bid is 250, ________ will win the auction and will have to pay ________ for the painting.
 
  A) Bob; 250
  B) James; 400
  C) Rachel; 450
  D) Joe; 400

Question 2

The figure above shows the market for college education in the United States. If there is no external benefit from a college education and the government does not intervene in the market, then the equilibrium tuition of college education is
 
  A) 13,000.
  B) 16,000.
  C) 20,000.
  D) 7,000.
  E) None of the above answers is correct.

[leeeep]

Answer to Question 1

C

Answer to Question 2

A