Question
A tiny country of 4,000 inhabitants needs to fund its national defence. All individuals have identical inverse demand functions = 25 and the marginal cost
A tiny country of 4,000 inhabitants needs to fund its national defence. All individuals have
identical inverse demand functions = 25 and the marginal cost is 20,000.
You work for the government and are supposed to advise on the type of auction that the government should run. Under affiliated value estimates? And under independent private values? Explain in detail.
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International Economics
Authors: Robert Carbaugh
15th edition
1285854357, 978-1305177093, 1305177096, 978-1285854359
