Refer to the scenario above. The winner of this auction will earn a surplus of ________ if he follows his dominant strategy

The most economically efficient exchange rate system is one in which

A) residents of a nation can reallocate their resources at minimal costs. B) the central bank in a nation requires the least intervention in domestic money markets. C) the central bank in a nation requires the least intervention in foreign exchange markets. D) real income fluctuations are minimized.

At the point where total utility is at its peak, marginal utility is:

a. zero. b. positive. c. negative. d. positive, but declining. e. positive, but increasing.