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A. Reserve PricesA reserve value is a minimum value set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. I f only one bidder values the item at or above the reserve price, that bidder pays the reserve price. An auctioneer faces two bidders, each with a value of either $30.00 or $80.00, with both values equally probable. What reserve price should the auctioneer set, and what is the expected revenue from auctioning the item with and without a reserve price?
B. Extended WarrantiesYour product fails about 20% of the time, on average some customers purchase the extended warranty you offer on which you will replace the products if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both moral hazard and adverse selection issues.
Determine the official measure of the deficit
Linear programming is a mathematical technique used to determine the optimal solutions to certain specific problems.
Draw the firm's average and marginal cost curves on the following diagram and the information in the following table relates to a firm's average and marginal costs of operating each of three plants (X, Y and Z). Each plant has a U-shaped average c..
Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.
Given the data, please construct the demand estimation for soft drink consumption in the United States by a multiple-linear regression equation, and a log-linear (exponential) regression equation.
Estimate the coefficients of the demand model for the data given above. Provide an economic interpretation for each of the coefficients in the estimated demand equation you have compuated.
Describe critically growth maximisation model of morris - Grade Level : Post Graduate Level
The organization and coordination of the activities of a business in order to achieve defined objectives.
Carry out an analysis from the standpoint of both EMV and expected utility to establish Jeremiah’s best course of action, including a consideration of his bidding strategy with regard to the auction.
Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.
"A characteristic of oligopolistic market is that, once the general price level is established it tends to remain fixed for an extended period of time." Discuss the economic rationale underlying this phenomenon.
How does capital investment affect the marginal physical product of labor and does more college education have the same kind of effect also which is a better investment
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