The optimal bidding strategy for a second-price auction is
a. To bid your true value
b. To shade your bid well below your true value
c. To shade your bid just a little below your true value
d. To size up your competition to determine how much to shade your bid
a
Economics
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The total revenue test says that if a price decrease leads to
A) an increase in total revenue, demand is income elastic. B) a decrease in total revenue, demand is income inelastic. C) a decrease in total revenue, demand is price inelastic. D) a decrease in total revenue, supply is price inelastic. E) a decrease in total revenue, supply is price elastic.
Economics
Define and distinguish between final goods and intermediate goods
What will be an ideal response?
Economics