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 not the highest
c. there were not many other bidders you had to beat out
d. you shaded your bid a lot
d
Economics
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The Slutsky equation is a mathematical representation of:
A) a utility function. B) the marginal utility of income. C) a demand curve. D) the income expansion path. E) the substitution and income effects.
Economics
With a linear production function there is a:
A. perfect complementary relationship between all inputs. B. variable-proportion relationship between all inputs. C. fixed-proportion relationship between all inputs. D. perfect substitutable relationship between all inputs.
Economics