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Q. Consider a third-price sealed bid auction: Suppose there are more than two bidders. Each potential bidder writes down a bid on a piece of paper. buyer with highest bid gets item and has to pay third highest bid. Is there dominant strategy equilibrium for this auction? Make sure you exhaust all possibilities.
What requires the highest sales volume to earn a profit. Would it be better to have fewer airline companies and more full planes.
Explicidate that a profit-maximizing bundle will typically not exist for a technology that exhibits increasing returns to scale as long as there is some point that yields a positive profit.
Draw the Edge worth Box diagram for this economy also Explicate whether the initial allocation of cheese also bread is Pareto efficient.
Illustrate what specific factors might have accounted for this event.
Elucidate why the dam project is considered a public good and discuss whether government intervention leads to a more efficient use of resources.
Explain how can tax cuts help revive the economy.
Explain how does price elasticity of demand for corn oil influence quantity-demanded of corn oil and Total Revenue earned by sellers of corn oil.
Explain what do you think the fact that most American CEOs are paid so much more than rank-and-file employees suggests CEOs are overpaid.
Describe some forms of private spending which represent consumption some forms which represent investment.
How many bottles would be demanded in entire market if price is $1.00. How many bottles would be demanded in entire market if price is $2.00.
Assume that an economy producing two products, skateboards also in-line skates, is initially in equilibrium also that skateboards also in-line skates are substitutes.
Recent survey of high school students, it was found that the average amount of money spent on entertainment each week. Values are representative of all high school students.
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