Intense market competition is ________ for producers, since ...

[bio_gurl]

Intense market competition is ________ for producers, since it_______.
 a. Bad; erode consumer surplus
 b. Bad, erode producer profits
 c. Good, increase the price level in the market
  d. Good; decrease the price level in the market

Question 2

In a common-value auction
 a. No bidder knows what the exact value of the item being auctioned
  b. Each bidder has only an estimate of the value of the item
 c. The value is the same for each bidder
 d. All of the above

[diana chang]

Answer to Question 1

b

Answer to Question 2

d

[bio_gurl]

YES! Correct, THANKS for helping me on my review

[miss_1456@hotmail.com]

Thanks for the timely response, appreciate it