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 the highest
c. there were not many other bidders you had to beat out
d. you did not shade your bid enough
b
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Assume a country agrees to a free-trade act with another country. In the process, some individuals are displaced from their jobs, thus the free-trade act results in a negative externality
A) False. B) True. C) Only if those who were displaced are not compensated with another job or income transfer. D) Only if those who were displaced were compensated with another job or income transfer.
Airlines charge business travelers more than leisure travelers because there is a more:
A. Elastic supply of business travel B. Inelastic supply of business travel C. Elastic demand for business travel D. Inelastic demand for business travel