« previous next »

Author Question: A small town in West Texas has one gas station. If the price of oil increases, the price of gas that ... (Read 60 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jul 1, 2018
A small town in West Texas has one gas station. If the price of oil increases, the price of gas that the station charges will most likely
 a. increase.
 b. decrease.
 c. remains the same.
 d. may increase or decrease.

Question 2

In common value auctions
 a. Every bidder know the value of the object being sold
 b. Each bidder makes their own 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


atrochim

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

West Highland White Terrier West Highland White Terrier
Sunset Diagram of changes in East and West from Solstice Sunset Diagram of changes in East and West from Solstice
“Ich bin ein Berliner” (I am a Berliner), Kennedy declared from a balcony in West Berlin in June ... “Ich bin ein Berliner” (I am a Berliner), Kennedy declared from a balcony in West Berlin in June ...
West Antarctic Ice Sheet West Antarctic Ice Sheet
A Radio Telescope in Green Bank, West Virginia A Radio Telescope in Green Bank, West Virginia
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Neural regulation of mechanical digestion- CNS voluntary, ANS & ENS controlled involuntary movements

For a complete list of videos, visit our video library