Bid-rigging is more likely when
a. auctions are for larger amounts
b. auctions are infrequent
c. auctions are for smaller amounts
d. the auctioneer is paid on commission rather than a fixed fee
c
You might also like to view...
A customer at an auction who obtains an antique chair by outbidding several other prospective purchasers
A) may be paying more than the opportunity cost of obtaining the chair. B) pays a price other than opportunity cost. C) pays more than its real cost of his bid exceeds the original cost of the chair plus the cost of running the auction. D) pays the opportunity cost of the last disappointed bidder.
In the figure above, an increase in income would result in the budget line
A) making a parallel shift toward point a. B) making a parallel shift toward point c. C) becoming flatter. D) becoming steeper.
In a natural experiment,
A. similar people face very different circumstances. B. the circumstances of otherwise identical people differ entirely by chance. C. the circumstances of one group of people is compared to a "control" group of people. D. similar people face very similar circumstances.
If a firm acquires new machines that complement labor
A. there will be no effect on the marginal product of labor curve. B. the amount of labor services hired will decrease. C. the marginal revenue product of labor curve will shift upward. D. the marginal revenue product of labor curve will shift downward.