« previous next »

Author Question: More bidders increase the selling price in a second-price auction because a. the true values of the ... (Read 116 times)

Capo

  • Hero Member
  • *****
  • Posts: 545
on: Jul 1, 2018
More bidders increase the selling price in a second-price auction because
 a. the true values of the losers is higher
  b. the true value of the winner is higher
  c. bidders bid more aggressively
  d. bidders shade their bids by less

Question 2

When prices drop in response to a decline in demand for an increasing cost industry:
 a. producer surplus will increase but rents may decrease.
  b. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs.
  c. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs.
  d. both producer surplus and rents will increase.


bblaney

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes
True-color image of layers of haze in Titan's atmosphere. True-color image of layers of haze in Titan's atmosphere.
Alan Price - Poor People Alan Price - Poor People
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
IPCC Temperature Increase Predictions Relative to 1986-2005 IPCC Temperature Increase Predictions Relative to 1986-2005
Effect of an Increase in Technological Progress Effect of an Increase in Technological Progress
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library