1. The following two examples show that truthful bidding is not a dominant strategy in the first- price and third-price auctions: a. Consider a first-price auction (The highest bidder wins the good, pays his or her bid; the other bidders do not pay). Suppose there are two bidders; bidder 1 has a value of 10. Argue that bidding 10 is not a best response for bidder 1 if bidder 2 bids 5. b. Consider a third-price auction (The highest bidder wins the good, pays the third highest bid; the other bidders do not pay). Suppose there are three bidders; bidder 1 has a value of 10. Argue that bidding 10 is not a best response for bidder 1 if bidder 2 bids 11 and bidder 3 bids 8.

Q: oes decreases from $60 t

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Q: Adam Smith, how would a market economy accomplish that harmony about which he describes?  What is go...

A: The market economy is one in which the forces of supply and demand determine market price and quanti...

Q: Situation : Compute the interest for an amount of P 400,000 for a period of 7 years. 9. If it was ma...

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Q: Normal profit is called normal because

A: To find:  Normal profit is called normal because

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Q: QUESTION 12 In the expenditure approach to GDP, which of the following is excluded from measurements...

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A: The purple area represents the producer surplusPS=12×base×heightPS=0.5×60×(210-30)PS=30×180PS=5400Th...

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Q: Malthus's theory of growth is really a theory of cycles. True or false? O True O False

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A:

Q: :8. The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at ...

A: To find : When did critique of political and economy appeared. 

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Q: - Interest is paid because

A: To find : Why is interest paid. 

Q: 48. Demand curve slopes downward because of the law of A. O Consumer equilibrium B. O Utility maximi...

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Q: . The short run Is less than one year Requires that at least one input is fixed

A: To find : The short run. 

Q: The determination of the salaries of teachers would be a topic for microeconomics

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Q: 5. The coach of a high school football team decides to allow girls to play football on the same team...

A: The problem relates to the subject of economic ethics and behavioural economics.

Q: Changes in real GDP reflect

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A: The uneven distribution of income throughout the population is known as inequality in income. When t...

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A: 1 B an audit revealed that some $200 has been released from the TEF for the political reasons. Democ...

Q: Price of good x (RM) Quantity demanded for good x (Units) Quantity demanded for good Y (Units) Quant...

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Q: Fiona has von Neumann-Morgenstern utility function u(x) Vr and initial wealth 640,000. She faces a 2...

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Q: 8. If Ramil invested P20,000.00 at a nominal rate of interest of 14% compounded quarterly. What is t...

A: Given that, Ramil invested 20,000.00 Nominal interest rate = 14% or 0.14  

Q: When choosing a distribution strategy, which of the following statements are true?

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Q: The degree of monopoly power is measured in terms of difference between

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A: Illegal good Fine = $600 Probability of arrest = 1/6

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Q: Why agrarian reform and land reform are important to Filipino farmers

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A: Since we answer a maximum of 3 sub-parts questions 1-3 will be answered here. Please reupload the qu...

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A:

Q: An economy, Delta exported goods worth $30 billion and services worth another $10 billion in 2020.  ...

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Q: 5 What is the z-score that bounds a tail area of  0.15? a 1.10         b 1.07         c 1.04        ...

A: According to Z table, the closest value to 0.15 is 0.14917 at 1.04.

Q: 2.) JK Chemicals have just finished the construction of a new chemical manufacturing plant overseas ...

A: In the question above, it is given that : J K Chemicals have just finished the construction of a ne...

Q: 57. The supply of a commodity refers to A. O Actual production of the commodity B. O Total existing ...

A: Introduction:- Supply: It is a fundamental economic concept that describes the total amount of a spe...