The more bidders there are at a second-price auction,
a. the higher the expected selling price
b. the higher each bidder bids
c. the more each bidder will shade his bid
d. the less each bidder will shade his bid
a
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If Polaroid wanted damages against Kodak for infringing on its instant development film process, and the courts found a high positive cross elasticity between purchases of Polaroid instant film and 35 mm regular film, would that have strengthened or weakened Polaroid’s claim against Kodak?
What will be an ideal response?
In the short run, if the average total cost of producing 4,000 shoes is $10 and the average total cost of producing 7,000 shoes is $9, then the most efficient point of production occurs at a quantity at least as great as 7,000
Indicate whether the statement is true or false
How much is the average propensity to consume when disposable income is $2 trillion?
A. .25
B. .5
C. .75
D. 1.0
If Tiger Toys faces a demand curve of P = 85 ? 0.25Q and a MC = ATC = 20, then the markup would be
A. $20.00. B. $52.50. C. $32.50. D. $65.00.