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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 145 times)

lb_gilbert

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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

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

A

Answer to Question 2

D


lb_gilbert

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Reply #2 on: Jul 1, 2018
Correct answers!


raili21

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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