What is meant by sniping in an auction? Does it make sense to snipe to win an auction?
What will be an ideal response?
Auctions that are held on eBay end at a pre-specified time. This leads to sniping – a practice where a bidder places bids at the last possible minute, just before the auction ends. This allows the bidder to win the auction, as the auction ends before other bidders can react. There appears to be no statistically significant benefit to sniping. Research has shown that the final prices for two identical goods were approximately the same, with sniping and without.
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The above figures show the market for hamburger meat. Which figure(s) shows the effect of a new report by the U.S. Surgeon General that beef consumption is healthier than previously believed?
A) Figure A B) Figure B C) Figure D D) Figure A and B
Under a gold standard system, central banks can follow an independent monetary policy
Indicate whether the statement is true or false