In a second-price sealed-bid auction, the ________ bidder wins the item
A) second-highest
B) highest
C) first
D) lowest
B
Economics
You might also like to view...
If Project X has a cost of $6 and provides a benefit of $10, and Project Y has a cost of $25 and provides a benefit of $27, which of the following statements is true?
A) An individual can optimize by choosing Project X. B) An individual can optimize by choosing Project Y. C) Switching from Project X to Project Y increases net benefit by $2. D) Switching from Project Y to Project X decreases net benefit by $2.
Economics
How does fairness differ from equality?
Economics