Suppose the extra cost for a company to advertise for one extra day each week in the local newspaper is $200. Then, the company should advertise on that additional day if it can generate additional revenue of $200 each week

What is the difference between the absolute and relative concepts of poverty? What are the major problems in measuring poverty with them?

What will be an ideal response?

Consider an auctioneer who is selling an item through an auction. It is known that the 10 risk-neutral bidders have independent private values that are uniformly distributed between $1,000 and $2,000. Based on this information, we can conclude that the expected revenue in this auction will be:

A. $2,000. B. $1,000. C. $1,900. D. There is insufficient information to determine the expected revenue.