You are a bidder in an independent private values auction, and you value the object at $3,000. each bidder perceives that valuations are uniformly distributed between $1,000 and $8,000. determine your optimal bidding strategy in a first-price, sealed-bid auction when the total number of bidders (including you) is:

What are six resources for you decide which type of business to start and how to start it?

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.

Until recently, hamburgers at the city sports arena cost $4.70 each. the food concessionaire sold an average of 13 comma 000 hamburgers on game night. when the price was raised to $5.40, hamburger sales dropped off to an average of 6 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $1 comma 500 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.