In a common-value auction
a. Every bidder knows the exact value of the item being auctioned
b. Each bidder knows everyone else's value of the item
c. The value of the item is different for all the bidders
d. None of the above
d
Economics
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A protectionist policy restricts free trade.
a. true b. false
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The marginal social benefit (MSB) of abatement represents
a. the additional gains to society from reducing pollution b. the reduction in damages from abatement c. society's demand for abatement or environmental quality d. all of the above
Economics