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For this week's discussion, find and describe an example of a real-world auction. Briefly identify the participants and the rules of the auction along with the object(s) being auctioned. Then address the following questions:
Does one of the auction types that we have discussed fit your example well?
What are the differences between your real-world example and the textbook models, and what factors would the bidders need to consider when modifying their bidding strategy to account for the differences?
How do you think the strategies would change?
Desperate David devours (consumes) only donuts and dumplings. Every donut costs $1.00 and every dumpling costs $1.50. His monthly budget for these items is $100. His mom makes dumplings at home at gives him 30 dumplings free every month.
David Ding advertises on a local radio station. For the past six week, the manager has kept records of the humber of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1,400 in sales.
A consumer must divide $250 between the consumption of product X and product Y. The relevant market prices are Px $5 and Py $10. Show how the consumer's opportunity set changes when the price of good X increases to $10.
an economy has a production given by y k0.25n0.75.a. what king of returns to scale does the production function
The equipment has been depreciated using MACRS with a GDS property class of 7 years. The state in which the firm operates imposes a 10% corporate income tax. The firm has federal taxable income in the $10,000,000 to $15,000,000 bracket
In the late 2010, you purchased the common stock of a company that has reported significant earnings increases in nearly every quarter since your purchase. The price of the stock increased from $12 a share at the time of the purchase to a current ..
Suppose that due to a political conflict inside the country, there is a risk the government will default in its debt in t = 2. The investors perceive the probability of that default to be = 0:10. What interest will they demand (HINT: because inves..
Manke a graph showing the relationship between two variables, X and Y . Determine whether the relationship is negative or positive
the table below sets out some data for country x in 2007.nbspnbspnbspnbspnbspnbspnbspnbsp item nbsp nbsp nbsp nbsp
Under patent protection, a firm has a monopoly in the production of a high-tech component. Market demand is estimated to be: P = 100 - 0.2Q. The firm's economic costs are given by: AC = MC = $60 per component.
The demand for haddock has been estimated as log Q = a=b log p=cl log I = d log Pm Where Q= quantity of haddock sold in New England P = price per pound of haddock I =a measure of personal income in the New England region and Pm= an index of the pr..
Is the ATC sloping up or down at the current equilibrium? [Hint: is the MC above or below the ATC at the chosen output?]
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