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

Author Question: In a competitive industry a. firms produce a product or service with very close substitutes b. the ... (Read 57 times)

SGallaher96

  • Hero Member
  • *****
  • Posts: 509
on: Jul 1, 2018
In a competitive industry
 a. firms produce a product or service with very close substitutes
  b. the firms products have a very elastic demand
 c. the firms have many rivals
 d. all of the above

Question 2

Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of 100 or a low-value of 70 with equal probability. If Anna holds an auction between the two customers, the expected value of this auction is
 a. 70
 b. 78
 c. 85
 d. 100


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Pariscourtney

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


SGallaher96

  • Member
  • Posts: 509
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Furchgott's discovery that endothelial cells produce a vasodilating substance. Furchgott's discovery that endothelial cells produce a vasodilating substance.
Close-up of the head of the legless fossorial amphisbaenid Rhineura Close-up of the head of the legless fossorial amphisbaenid Rhineura
Fish come in many shapes and sizes. This is a sea dragon, a close relative of the seahorse. Their le Fish come in many shapes and sizes. This is a sea dragon, a close relative of the seahorse. Their le
Medical assistant shaking hands with the interviewer at the close of the interview. Medical assistant shaking hands with the interviewer at the close of the interview.
a) Lunge with your legs open to the table. b) Avoid lunging with your legs close to table. a) Lunge with your legs open to the table. b) Avoid lunging with your legs close to table.
Note the discovery as the air filter housing was opened during service on a Pontiac Bonneville. The ... Note the discovery as the air filter housing was opened during service on a Pontiac Bonneville. The ...
Video: Secondary and tertiary levels of protein structure Animation

For a complete list of videos, visit our video library