If the bidders at a first-price auction have true values of $8, $7, $6, and $5, the item will sell for

When the value of the dollar changes from £0.75 to £0.5, then the British pound has ________ and the U.S. dollar has ________

A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated

Regulation of monopolies is justified on the ground that a monopolist sells too less at a too high price

a. True b. False Indicate whether the statement is true or false