25.

Anna's Antiques expects to get two bidders for the unique china teaeup it sells. Each of the bidders can either have a high-value of $100 or a low-value of STD with equal probability. If AI'L'IIa instead holds an oral auction between the two bidders and one bidder of each type shows up. she earn from the auction. r] _ 3} Just above $?0 b) Just above $100 I\"! C) $100 libi d) 570 With which choice are you more likely to avoid Bid-rigging cartels? ( a) Holding smaller auctions O b) Holding larger auctions O c ) Holding frequent auctions O d) Both B&CYou can invest 5100.000 into either project A or B. You estimate that A would succeed with a probability of 0.6 in which case it doubles in value. If it fails. its scrap value is 3350.000. Project B would succeed with probability 0.7". in which case it would have a value of $150000. If it fails. project B's scrap value is 530,000. "Which project should you invest in '.._ 3) ProjectA '1' -- b) ProjectB 1| -- C) Neither of the projECtS '11- _,3' d) You cannot tell from the information presented