In a sealed-bid first price auction, if you notice that your competition is weaker, you should
a. Shade your bid more
b. Shade your bid less
c. Bid more aggressively
d. Both B&C
a
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The figure above shows the price of a DVD player from 1996 to 2000. a. What type of graph is illustrated above? b. What is the trend in the price of a DVD player?
What will be an ideal response?
The fact that individual productive resources are NOT equally useful in all activities
A) implies that a production possibilities frontier will be bowed outward. B) implies that gain from specialization and trade is unlikely. C) follows from the law of demand. D) implies a linear production possibilities frontier.
How does the growth rate of real GDP contribute to an improved standard of living?
What will be an ideal response?
The restricted opportunity cause of poverty is due to government destroying incentives
Indicate whether the statement is true or false