This factor contributes to the winner's curse
a. your estimate of the value of the object was not the most optimistic
b. your bid was not the highest
c. there were not many other bidders you had to beat out
d. you did not shade your bid enough
d
Economics
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The growth rate of real GDP per person in the United States has
A) averaged approximately 2 percent per year over the past century. B) has consistently been 2 percent per decade over the past century. C) has been the highest in the world over the past 5 decades. D) has increased every year over the past century.
Economics
When the marginal cost of a price-taker firm is more than the market price of its product, the firm should:
a. expand output. b. reduce output. c. maintain output. d. charge more than the market price.
Economics