More bidders increase the selling price in a second-price auction because
a. the true values of the losers is higher
b. the true value of the winner is higher
c. bidders bid more aggressively
d. bidders shade their bids by less
a
Economics
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Refer to Scenario 12.1. Suppose that a third friend, Ryan, joins Simon and Paula on their way home from school, and this reduces the probability of any particular individual from stepping forward to help the man being attacked from 70% to 40%
What is the probability of either Simon, Paula, Ryan, or any combination of the three trying to rescue the man? A) 28.8% B) 49.6% C) 78.4% D) 93.6%
Economics
How do constant returns to scale affect the shape of the long-run average cost curve?
What will be an ideal response?
Economics