« 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 77 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?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

The alimentary canals of a nonruminant herbivore and a small carnivore. The alimentary canals of a nonruminant herbivore and a small carnivore.
The small dorsal fin of this blue whale is just visible on the far left. The small dorsal fin of this blue whale is just visible on the far left.
Magnetic resonance imaging (MRI). The MRI lab includes the scanning instrument and a computer statio Magnetic resonance imaging (MRI). The MRI lab includes the scanning instrument and a computer statio
During drought years on the Galapagos, small, easily eaten seeds become rare, le During drought years on the Galapagos, small, easily eaten seeds become rare, le
Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The
Common skin signs are often evidence of an illness or disorder. A pustule is a small, elevated, ... Common skin signs are often evidence of an illness or disorder. A pustule is a small, elevated, ...
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library