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Cattle auctioneers have a competition each year to see who is the best auctioneer in the country in terms of their style, the clarity and
Cattle auctioneers have a competition each year to see who is the best auctioneer in the country in terms of their style, the clarity and cadence of their auctioneer chant, and other judging criteria. Feel free to look up information about such competitions and the importance of a skilled auctioneer for those selling cattle at auction. Based on your understanding of willingness-to-pay, willingness-to-sell, consumer surplus, and producer surplus what do you believe the goal of an auctioneer is at an auction? How do they accomplish this? Why might the skill of an auctioneer be so important for small-scale cattle ranchers? (20 points)
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