Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In a second-bid auction, buyers submit sealed bids, and the highest bidder obtains the item for sale but pays the seller an amount equal to the second highest bid.
a. Suppose buyers hold different private values for the item. Show that each player's dominant strategy is to bid his or her true value in this sealed bid auction. (Hint: Check that the bidder cannot gain by either understating or overstating his or her reservation price in making his or her bid.)
b. In the setting of independent, private values, the English and second- bid auctions lead to identical bids and outcomes. Explain why.
c. The major auction houses allow buyers who will not be in attendance to submit bids prior to the public auction. A representative of the house bids on the buyer's behalf up to but not in excess of the submitted bid. A submitted bid of $1,200 could well win the item for a price of $900 when the bidding stops in the actual English auction. What is the optimal submitted bid for a buyer with private value vi? Explain.
These multiple choice problems belong to Economics. The first problem is about demand curve in competitive market and the second problem is about comparing the difference between prices and average variable cost.
Suppose that you value a hat from your favorite university at $20. The university bookstore has the hat on sale for $15. You purchase the hat but lose it on the way home. What should you do? Assume that losing the hat does not alter how you value it.
Can you say whether or not actual inflation is equal to expected inflation - Can you say whether or not inflation will rise or fall from its current amount
The price of the basket in the current year is $92, what is the CPI - what is the inflation rate for Year "x"
[Econometrics] Suppose you are attempting to build a model that explains aggregate savings behavior as a function of the level of interest rates. Would you rather sample during a period of fluctuating interest rates or a period in which interest rate..
Discuss the implications on the dead weight loss
Suppose that workers become concerned about the future and therefore wish to increase their hours of work relative to leisure. At the same time, there is an increase in the capital stock, making workers more productive.
consider the graph below.nbsp it contains 2 separate demand curves d1 and d2 the marginal revenue curve associated with
What are the basic objectives of monetary policy?
A firm is competitive in both product and resource market. The firm's short run production function is given by Q = 0.5L1/2 where L is the labor input. Assume the wage rate is $10 and the firm's fixed cost is 100. If the price of the good in the m..
Normal 0 false false false EN-US X-NONE X-NONE If income increases by $10,..
In what condition will a perfectly competitive firm that incurs economic losses choose to produce rather than shut down in the short run? Why will the firm do so (c) Should a firm produce at an output level at which long-run average cost is minimiz..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd