1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
blagie [28]
3 years ago
14

Charlie Plopp is selling a horse. If he does not sell the horse, then he gets no revenue. Three types of people are interested i

n buying the horse: professional cowboys who value the horse at $H, recreational riders who value the horse at $M, and glue factory representatives who value the horse at $L, where H>M>L. There are two buyers visiting Charlie's barn, and while Charlie can't tell what type of buyers they are, he knows that each one is independently and equally likely to be one of the three types. He is considering two methods of selling the horse: Method 1: He posts the horse at a price of $M. Method 2: He runs a sealed-bid auction and sells to the highest bidder at the second highest bid. Assume bidders bid rationally, and if a buyer is indifferent between buying and not buying, he buys. Charlie gets higher expected revenue from Method 2 if and only if which of the following conditions holds?
A) H+ 5L > SM
B) H+4L > 7M
C) 2H + 5M > 4M
D) H+ 5L <8M
E) H+ 5L <5M
Business
1 answer:
qaws [65]3 years ago
8 0
I think it’s E if not then it’s C
You might be interested in
Ball transforms raw materials, human resources, parts, supplies, tools, and other resources into containers using processes of f
Jlenok [28]
This process is known as operations management. Operations management serves to foster the highest possible level of efficiency within an organization. It is an important practice of business management. The way operations management is carried out in any organization is varied and it depends on the types of goods and services that are offered. 
7 0
3 years ago
Someone who does not have an aptitude or ability in a career area is at disadvantage if they select a career in that
REY [17]

Someone who does not have an aptitude or ability in a career area is at a disadvantage if they select a career in that field. ... When working on developing an ability, it is important to get feedback to know how you are doing. True. Jobs that require you to use your aptitudes are typically unrewarding

8 0
2 years ago
Read 2 more answers
Able Trucking Corporation files a suit in a state court against Bob’s Service Company (BSC), and wins. BSC appeals the court’s d
xz_007 [3.2K]

Answer:

Explanation:

An appellate court will reverse a lower court’s decision on the basis of the facts only

when the finding is clearly erroneous (that is, when it is contrary to the evidence

presented at trial) or when there is no evidence to support the finding. Appellate courts

normally defer to a trial court’s decision with regard to the facts of a case, however, for

several reasons. First, trial court judges and juries have the opportunity to observe

witnesses and tangible evidence first hand. The appellate court sees only a cold record of

the trial court proceedings and therefore cannot make the kind of judgments about the

credibility of witnesses and the persuasiveness of evidence that can be gleaned only from

firsthand experience. Second, as occurs when there is no jury and the case is heard by a

judge, trial judges routinely sit as fact finders. As a result, they develop a particular

expertise in determining what kind of evidence and testimony is reliable and what kind is not

3 0
3 years ago
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can
Ierofanga [76]

The true statement out of all is

B) Georgeland has both an absolute and a comparative advantage in producing clothing.

Explanation:

This is because Absolute advantage is when one firm or a producer is able to produce more of a product using less resources or less time or more of the product in the same resources or same time as the other.

Comparative advantage is found out at the added bonus of having the product be as viable as it is advantageous which means that the producer could also be making another product and would have the advantage in that too so either one of them is equally profitable.

5 0
3 years ago
World trade organization (wto) member countries account for approximately __________ percent of world trade.
svp [43]
World trade organization member countries account for approximately 80-95% of world trade. Its three main functions are: -Forum for negotiation -Administration -Dispute Settlement To sum it up, World Trade Organization sets the rules, allows countries to talk, and has process for actually resolving problems.
3 0
3 years ago
Other questions:
  • In august 2016, richard purchased and placed in service an office building costing $753,000, including $134,000 for the land. th
    15·1 answer
  • True or false: keynesian economists argue that the government can fight inflation by implementing expansionary fiscal policy.
    12·1 answer
  • Taylor Company purchased a piece of equipment for $2,000 several years ago. It would cost $4,000 to replace that piece of equipm
    15·1 answer
  • Gala and Hoyt are employees of IT Business Solutions, Inc. Under the Equal Pay Act of 1963, It Business Solutions can legitimate
    8·1 answer
  • When vertical analysis is performed: a. ratios are used to detect fraud b. changes in significant balance totals are examined c.
    15·1 answer
  • In a debate on the state of the economy Senator A pointed out that the price of clothing, fruits, and computers had decreased sl
    6·1 answer
  • The financial reporting carrying amount of Johns-Hopper Company's only depreciable asset exceeded its tax basis by $750,000 at D
    9·2 answers
  • Each of the following would be reported under operating activities except Select one: a. cash payments for interest expense. b.
    8·2 answers
  • In strategic management, both the short-term and long-term perspectives need to be considered because a. the creative tension be
    8·1 answer
  • A resource is ______ if the number of firms that possess it is less than the number of firms required to reach a state of perfec
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!