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Question: The Federal Communications Commission (FCC) has hired you as a consultant to design an auction to sell wireless spectrum rights. The FCC indicates that its goal of using auctions to sell these spectrum rights is to generate revenue. Since most bidders are large telecommunications companies, you rationally surmise that all participants in the auction are risk neutral. Which auction type-first-price, second-price, English, or Dutch-would you recommend if all bidders value spectrum rights identically but have different estimates of the true underlying value of spectrum rights?
Explain and summarize the difference between accounting profit and economic profit. Interpret the notion of normal rate of return and term opportunity cost.
Evaluate and analyse the education policy "Poor Learning Outcomes" using cost-benefit analysis, stakeholder analysis, data analysis, or analysis of inputs
Define attitudes and explain the three dimensions of an attitudes. Explain the relationship between consumers' attitudes and the brand they purchase
How do you think the recent elections in Congress will affect the United States economy? Do you think that the minimum wage should be increased? Explain.
What are the four major types of markets in microeconomic analysis and what are the key characteristics that distinguish these markets?
what is meant by inflation? write down the causes of inflation? is inflation desirable and what can be done to control
Despite the fall in demand for labor services. Show that whether the wage payments rise or fall depends on the elasticity of demand of labor.
in markets characterized by oligopolya. expectations on how rivals will respond are important considerations when a
The steady increase in demand for home computers has resulted in the massive increase in demand for web access, yet, the price of access has been steadily declining.
Identify where the appropriate entries go in the circular flow diagram.
Describe briefly a market in an important product, resource or service in which demand and supply is not mediated through price mechanism. What alternative mechanism is used to allocate the scarce resource or product in this market [Hint, one such..
Suppose the government imposes sales tax T = 1 on good X per unit. What is the optimal consumption for good X and good Y for the consumer
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