Answer and Explanation:
Given that this is a second price bid auction whereby the second highest bid is the price that the highest bidder pays for the item up for auction sale, so that b1>b2 then b1 gets item for the price of b2.
Truthfulness of true value is the dominant strategy here which means each player should aim to be truthful with their bid regarding their true value regardless of what other bidders are bidding. Therefore truthfulness of value is the optimal strategy with the best payoff for bidders
Answer:
B
Explanation:
Reserves J: Excess reserves J: Loans J: Deposits ;Money supply
Answer:
A psychological footprint
Explanation:
Answer:
Capability ratio = 1.04166
Explanation:
Given:
Length of a shoe (not deviate) = 1 mm
Standard deviation of this length = 0.32 mm
Number of standard deviations = 3
Find:
Capability ratio = ?
Computation:
Capability ratio = [Length of a shoe (not deviate) / Standard deviation of this length] / Number of standard deviations
Capability ratio = [1 / 0.32] / 3
Capability ratio = 3.125 / 3
Capability ratio = 1.04166
Capability ratio is greater than 1, therefore process is capable.
Answer:
JIT production and JIT purchasing
Explanation:
JIT production and JIT purchasing under this process entity does not have extra material in stores and extra inventory produced.
as per the just in time
there is no benefit of holding inventory at stores
producing extra units does not add value they are useless until they are sold.
According to just in time inventory should be purchased when order has been placed and production process should start in order to meet the customers orders.
there are some conditions for this process
there should be very system to meet the order on time
there should be relaible production system units produced should not be poor quality goods
there should reliable suppliers to supply the material on time to meet the customers orders and avoid the stock out costs.