Business, 04.01.2020 03:31 lexipooh5954

Imagine you are a buyer in a double oral auction with a reservation value of $17 and there is a seller asking for $11
if you accept this offer, you will gain $ (enter your answer as an integer)
if you are the only buyer, and you know that the lowest ask price is $3, should you accept this offer?
a. yes, since you will gain $14.
b. no, as the only buyer you can extract a lower ask price.
c. yes, accepting an offer from any other seller will reduce your surplus.
d. both a and c are correct.

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Imagine you are a buyer in a double oral auction with a reservation value of $17 and there is a sell...