A perfectly price inelastic demand curve will be a ________ line.

Refer to the scenario above. The winner of this auction will earn a surplus of ________ if he follows his dominant strategy

A) $100 B) $300 C) $400 D) $200

Marginal social benefit equals

A) marginal external benefit. B) marginal private benefit. C) marginal private benefit minus marginal external benefit. D) marginal private benefit plus marginal external benefit. E) marginal external benefit minus marginal private benefit.