In Vickery auctions, the item is awarded to the highest bidder at a price set by
a. Highest bid
b. Second highest bid
c. Third highest bid
d. Cost
b
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Which of the following will NOT cause a shift in the supply of gasoline?
A) An increase in the wage rate of refinery workers B) A decrease in the price of gasoline C) An improvement in oil refining technology D) A decrease in the price of crude oil
Explain why the portion of the national debt owed to foreigners is a serious matter, whereas the portion owed to U.S. citizens is of less concern. Why does the U.S. national debt pose less of a problem than the debts of Greece in 2010?
What will be an ideal response?
Which tax revenue given in the graph will be generated by two different tax rates?
A. F
B. G
C. H
D. I
At the equilibrium price, Question 30 options:
A. the quantity demanded equals supply. B. the government is setting the price. C. the quantity supplied equals demand. D. the quantity demanded equals the quantity supplied. E. there can be either a small surplus or a small shortage.