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Author Question: A situation in which a bidder over-values an auction item and is worse off because their bid is too ... (Read 45 times)

LCritchfi

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on: Jul 1, 2018
A situation in which a bidder over-values an auction item and is worse off because their bid is too high is known as the:
 
  A) Ellsberg Paradox.
  B) winner's curse.
  C) Arrow Impossibility Theorem.
  D) curse of the commons.

Question 2

Refer to Scenario 10.9. What is the maximum amount that Maui Macadamia would be willing to spend in order to maintain its monopoly through rent seeking?
 
  A) 0
  B) 1,800
  C) 5,400
  D) 10,800


mcabuhat

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


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LCritchfi

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Reply #2 on: Jul 1, 2018
Thank you


mcabuhat

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Reply #3 on: Jul 1, 2018
No problemo


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