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You are considering auctioning a Leonardo Da Vinci original sketch. You entice four bidders to come to your auction. The bidders' valuations of the sketch in decreasing order are $3.0, $2.2, $2.0, and $1.5 (in millions).
• If you used a second-price sealed bid auction, who would win and what would the winning price be?
• If you used a first-price sealed bid auction and the optimal strategy for the participants was to shade their bid by 20% and the participants used this strategy, who would win and what would the winning price be?
• Which auction should you choose to maximize your profit? The first-price bidders shade their bids by 20% of their evaluation of its value. The second-price bidders all utilize the optimal strategy for second price auctions stated in the textbook.
Marketing managers feel it is 1st important to get an idea of the climate in country towards foreign trade and investment. Examine Indonesia's trade policies as to how they advertise or restrict international trade.
Describe whether capital generated in the industrialized countries is finding its way to the less-developed.
During Dec. 2007 and Dec. 2008, measured RGDP in economy fell by 1 percent as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7 percent
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to price and output of Florida oranges under situations below.
Suppose that you believe that the average rate of inflation over the next 20 years will be 3.5 percent. Would you by the nominal or the inflation-indexed bond?
Suppose there are 7 firms in the candy industry with the market shares shown below. What is the HHI for the industry? When a monopolistically competitive firm's demand curve shifts leftward, what happens to its marginal revenue curve?
The historical returns on a balanced portfolio have had an average return of 12% and a standard deviation of 18%. Assume that returns on this portfolio follow a normal distribution. Use the empirical rule to answer the following questions. What p..
Recently submerged kingdom of Atlantis is populated through identical rational air breathing individuals. The king has decided to give an award to the industry whose product yields kingdom most economic value.
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
Suppose an individal who moves from Asia to the United State and brings with him life savings of $40,000, which he deposits in a US bank.
Competitive Market Equilibrium. Assume demand and supply situations in the competitive market for unskilled labor are as follows;
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