The optimal bid in a first-price, sealed-bid auction with independent private values is to bid:
A. less than the true value of the item.
B. the true value of the item and more than the true value of the item, depending upon whether value estimates are affiliated.
C. the true value of the item.
D. more than the true value of the item.
Answer: A
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In 2001, women in most occupations earned ________ of what males in the same occupation earned
a. less than 30 percent b. about 50 percent c. about 70 percent d. about 90 percent
On a graph, the origin represents
a. the dependent variable b. the variable that is the primary source of causation c. a caption or explanatory description of the symbols, colors, and measurements used on the graph d. the point at which the values of both variables are zero e. ancestry
One theory discussed in the textbook is that there is a direct relationship between the opportunity cost of having children and the number of children a woman will have
Indicate whether the statement is true or false
Assume that maximum feasible hourly productions levels if all resources are utilized in the United States are either 8 yards of fabric or 4 bushels of wheat. Maximum feasible production levels if all resources are utilized in Japan are either 3 yards of
fabric or 6 bushels of wheat. Based on this information A) beneficial trade is absolutely impossible between the two countries. B) the United States will benefit from trading but Japan will not. C) both nations will gain from specialization and trade, with the United States exporting wheat and Japan exporting fabric. D) both nations will gain from specialization and trade, with the United States exporting fabric and Japan exporting wheat.