Which auctioned good is more likely to have different private values across potential bidders?
A) a truckload of sand
B) a Monet painting
C) a brand new car
D) a gold bar
B
You might also like to view...
The present value of net benefits (PVNB) is
a. found as (PVB – PVC) b. equal to the ratio of PVB to PVC c. equal to the ratio of PVC to PVB d. not relevant to benefit-cost analysis
Which prices are used to measure goods and services in calculating the nominal GDP?
A) average prices B) past years prices C) current prices D) projected prices
Refer to Figure 5-3. At the competitive market equilibrium, for the last unit produced
A) the size of the external cost is Pn - Po. B) the size of the external cost is Pm - Po. C) the size of the external benefit is Pn - Po. D) the size of the external benefit is Pm - Po.
Explain how the listed events (a-d) would affect the following at Hilton Hotels
i. Marginal cost ii. Average variable cost iii. Average fixed cost iv. Average total cost a. Hilton decides on an across-the-board 5 percent increase in executive salaries. b. Hilton decides to eliminate all print advertising. c. Hilton signs a new contract with the Culinary Workers Union that requires the company to increase wages for all its kitchen workers. d. The federal government starts to levy a $5 room tax on all hotel rooms.