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

Author Question: In common value auctions a. Bidder do not know the value of the object being sold b. Each bidder ... (Read 68 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jul 1, 2018
In common value auctions
 a. Bidder do not know the value of the object being sold
  b. Each bidder makes the same estimate of the value of the good
  c. All bidders know the estimates of the others
  d. The true value of the item differs across bidders

Question 2

In an economy consisting of only two goods, corn and cloth, the amount of extra cloth that can be produced efficiently if corn output is reduced by one unit is equal to:
 a. the rate of technical substitution for corn divided by the rate of technical substitution for cloth.
  b. the rate of technical substitution for cloth divided by the rate of technical substitution for corn.
  c. the marginal cost of producing cloth divided by the marginal cost of producing corn.
  d. the marginal cost of producing corn divided by the marginal cost of producing cloth.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

patma1981

  • Sr. Member
  • ****
  • Posts: 292
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

d


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jul 1, 2018
Excellent

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial
Arthrocentesis. The aspiration of fluid is a common treatment for joint injuries resulting in inflam Arthrocentesis. The aspiration of fluid is a common treatment for joint injuries resulting in inflam
Common pathogens and some infections Common pathogens and some infections
Common skin signs are often evidence of an illness or disorder. A macule is a discolored spot on the ... Common skin signs are often evidence of an illness or disorder. A macule is a discolored spot on the ...
Common skin signs are often evidence of an illness or disorder. A wheal is a localized, evanescent ... Common skin signs are often evidence of an illness or disorder. A wheal is a localized, evanescent ...
Saturated Fat Content of Common Dietary Fats. Saturated Fat Content of Common Dietary Fats.
Video: Major Elements in Biological Molecules: Carbohydrates

For a complete list of videos, visit our video library