e value fluctuate substantially from night to night? of the nose fluctuated from night to night because the bidders have (1). der's bid determined the sales price? whose value determined the sales price was the (2). bidder. he auction price affected by the audience's knowledge that the proceeds would go to charity? Why? eeds went to the AIDS charity, private values re equal to zero. ered by each bidder's value of the AIDS charity. ered by each bidder's rationality. re equal to each bidder's common value. re the same for each bidder. rivate (2) O lowest omman second-lowest values for the auction item.

e value fluctuate substantially from night to night? of the nose fluctuated from night to night because the bidders have (1). der's bid determined the sales price? whose value determined the sales price was the (2). bidder. he auction price affected by the audience's knowledge that the proceeds would go to charity? Why? eeds went to the AIDS charity, private values re equal to zero. ered by each bidder's value of the AIDS charity. ered by each bidder's rationality. re equal to each bidder's common value. re the same for each bidder. rivate (2) O lowest omman second-lowest values for the auction item.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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