One reason demand curves slope downwards is

a. Marginal value increases with each purchase

b. Marginal value declines with each purchase

c. Total value declines with each purchase

d. All of the above

Dne reason demand curves slope downwards is 3- Marginal value increases with each purchase b. Marginal value declines with each purchase 6- Total value declines with each purchase (1. All of the above The following is an example of adverse selection a. Individuals living in less secure neighborhoods want to buy more insurance b. A majority of those applying for well paid jobs are well qualied c. Individuals with a strong family history of heart diseases opt to buy less insurance d. More reckless drivers opt for cars with fewer safety devices To attract more aggressive bidding in a common-value auction, as an auctioneer, you should a. Release maximum information about the item, even if it is adverse b. Release no information about the item c. Do not release any adverse information about the item (I. Do not let the bidders examine the item closely Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium? a. Do not be forgiving b. Be forgiving c. Punish the competitors severely forever (I. All of the above This factor contributes to the Winner's curse a. you shaded your bid too much b. your bid was not the highest c. your estimate of the value of the object was the most optimistic d. there were not many other bidders you had to beat out Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000. If Samantha is offered an insurance policy for her house to protect her from loss at $3,000, what is her expected wealth? a. $99,000 b. $97,000 c. $80,000 (1. $87,000