If the bidders at a first-price auction have true values of $78, $72, $66, and $65, the item will sell for
a. $78
b. just under $78
c. $72
d. just over $72
a
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With fixed exchange rates, a country
A) cannot conduct independent monetary policy. B) can conduct independent monetary policy. C) cannot conduct independent fiscal policy. D) Both A and C.
If there are only 10 firms in an industry, each with 10 percent of industry sales, this is an example of
a. monopolistic competition b. unbalanced oligopoly c. balanced oligopoly d. perfect competition e. insignificant firm market power
Time series regression is based on series which exhibit serial correlation.
Answer the following statement true (T) or false (F)
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.