The government is auctioning off oil leases at two sites: 1 and 2. At each site 10,000
Question:
a. Determine how to maximize the government’s revenue.
b. Use SolverTable to see how changes in the government’s rule on 40% of all land being auctioned affect the optimal revenue. Why can the optimal revenue not decrease if this percentage required increases? Why can the optimal revenue not increase if this percentage required decreases?
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Related Book For
Data Analysis And Decision Making
ISBN: 415
4th Edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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