This factor contributes to the winner's curse
a. your estimate of the value of the object was not the most optimistic
b. your bid was not the highest
c. there were not many other bidders you had to beat out
d. you shaded your bid a lot
d
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For which of the following will the law of one price hold best?
A) shirt B) butter C) gold D) milk
Explain why, when all adjustment have taken place, the perfectly competitive firm will operate at the minimum of its short-run and long-run average total cost curves and earn zero economic profit
What will be an ideal response?
At which interest rate is the present value of $183.60 two years from today equal to about $173.06 today?
a. 2 percent b. 3 percent c. 4 percent d. 5 percent
How would a new excise tax affect the supply curve?
(A) It would probably cause the supply curve to shift to the left. (B) It would probably cause the supply curve to shift to the right. (C) The effect cannot be determined without knowing the amount of the tax. (D) It would not change the supply curve, because it would only move price.