Refer to the scenario above. The optimal strategy for Rachel is to bid a price:
A) above her willingness to pay.
B) equal to half the amount she is willing to pay.
C) equal to 5/6 times her willingness to pay.
D) up to her willingness to pay.
D
You might also like to view...
In the interest-rate-based transmission mechanism, a decrease in the money supply will
A) reduce investment, shift the aggregate demand function inward, and lower real Gross Domestic Product (GDP). B) reduce the rate of interest and the level of investment. C) increase the price level. D) shift the aggregate supply function inward and increase real Gross Domestic Product (GDP).
Suppose that on average there are five more car accidents for every extra inch of snowfall in a certain region. If snowfall is graphed on the y axis and car accidents on the x axis, then if we graph this relationship, the slope of the line will be
A) 25. B) 5. C) 1/5. D) 1.