In a Dutch auction, the winner pays a price equal to ________
A) the market price of the good
B) the value of the lowest bid
C) his value for the good
D) his bid
D
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You enter a classroom, which is littered with newspapers. This is because
A) students are too lazy to clean up. B) maintenance people only clean once a day. C) it is a way to protest against the tuition rates. D) students do not pay for littering.
The total loss associated with the 2005 Hurricanes Katrina and Rita are estimated to be between
a. $40 and $60 billion b. $69 and $130 billion c. $69 and $80 billion d. $70 and $80 billion e. $140 and $200 billion
Adults who are waiting to be recalled to a job from which they had been laid off are counted as "unemployed."
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. If a competitive industry producing hamburgers is taken over by a pure monopoly firm that maximizes profit:
A. price will remain at $4 but output will fall by 100. B. price will rise to $6 and output will fall by 100. C. price will remain at $6 but output will fall by 100. D. output will remain at 100 but price will rise to $6.