Refer to the scenario above. If the best response of one bidder is to place a bid of $9,000, what is her maximum willingness to pay for the necklace?
A) $10,000
B) $9,000
C) $4,500
D) $18,000
A
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With regard to GDP, residential property taxes are an example of ____ taxes
a. variable b. sales c. fixed d. disposable
The largest source of federal revenue is the corporate income tax.
Answer the following statement true (T) or false (F)
Which of the following is an example of a negative externality?
A) There is an increase in injuries to pedestrians caused by accidents resulting from electronic billboards distracting drivers. B) The opening of a new shopping mall increases the business of nearby restaurants. C) A consumer pays a higher price than another consumer does for the same product. D) Consumers pay a sales tax in addition to the price of a product.
Refer to the graph shown. If this graph represents a monopoly market, the equilibrium price and quantity will be:
A. $7 and 325, respectively. B. $7 and 750, respectively. C. $10 and 500, respectively. D. $13.50 and 325, respectively.