Suppose you are bidding on a used car and someone else bids above the highest amount that
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Suppose you are bidding on a used car and someone else bids above the highest amount that you are willing to pay. What can you say for sure about that person’s monetary value of the good compared to yours?
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The person bidding above the amount that you are willing to pay likely values the good more than you ...View the full answer
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Related Book For
Modern Principles Of Microeconomics
ISBN: 9781429278416
3rd Edition
Authors: Tyler Cowen, , Alex Tabarrok
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