The more bidders there are at a second-price auction,
a. the higher the expected selling price
b. the higher each bidder bids
c. the more each bidder will shade his bid
d. the less each bidder will shade his bid
a
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Typically, employers compete with each other in the labor market to get and to retain the best possible workers. Explain how such competition might prevent the unemployment rate from ever being close to zero
What will be an ideal response?
The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right