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Author Question: In a first-price sealed-bid auction, the winner pays A) its own, highest bid. B) the amount bid ... (Read 91 times)

lb_gilbert

Hero Member
Posts: 588

on: Jul 1, 2018

In a first-price sealed-bid auction, the winner pays

A) its own, highest bid.
B) the amount bid by the runner-up.
C) the average of the three highest bids.
D) the common value.

Question 2

If average cost is positive,

A) marginal cost equals average cost.
B) marginal cost exceeds average cost.
C) marginal cost is less average cost.
D) Not enough information is provided.

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raili21

Sr. Member
Posts: 324

Reply #1 on: Jul 1, 2018

Answer to Question 1

A

Answer to Question 2

D

lb_gilbert

Hero Member
Posts: 588

Reply #2 on: Jul 1, 2018

Correct answers!

raili21

Sr. Member
Posts: 324

Reply #3 on: Jul 1, 2018

Great! Please up vote

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Author Question: In a first-price sealed-bid auction, the winner pays A) its own, highest bid. B) the amount bid ... (Read 91 times)

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