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Question: Consider a second price auction for a single item with two bidders. Suppose bidder 1 has a value uniformly drawn in the interval from 0 to 1, while bidder 2 has a value 0.4.
In the Bayesian equilibrium in undominated strategies, what is the seller's expected revenue? Give your answer to two decimal places.
Draw a new production frontier for nation 2 showing the rybcznski theorem for doubling for the amount of capital only.
a local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run
Say that the interest rate is 8%. If you invest $200 today and then another $300 in exactly one year, what is the total future value of these investments two.
The following two graphs show the ratio of consumption/income and stock prices/income, and the four-quarter percentage changes in consumption.
Imagine yourself as a business leader. How might you motivate employees or coworkers using the information shared by Daniel Pink?
A new engineer is considering investing in an individual retirement account (IRA) with a mutual fund that has an average annual return of 10%.
Why is providing sound guidance on expected demand important? Formulate a sound pricing strategy recommendation.
What is the most John willing to pay for this information? (Set up the relevant equation, you do not need to solve it completely.)
How could the central bank achieve this goal in the short run? What would happen in the long run? Illustrate with a diagram.
How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.
You are watching a sporting event on television. An advertisement featuring Tiger Woods (a famous golfer) is broadcast during a commercial break.
Calculate MRS for each of them and explain what their utility functions have in common - think about how each consumer gets an extra $1 of income
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