When costs that vary with the level of output are divided by the output, you have calculated:

Supply-side economists argue that decreasing marginal tax rates

A) increases productivity and shifts the AS curve to the right. B) increases productivity and shifts the AS curve to the left. C) increases productivity and shifts the AD curve to the left. D) due to the Ricardian equivalence, has no impact on the economy.

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