Suppose a stamp dealer buys the only two existing copies of a stamp at an auction. After

Question:

Suppose a stamp buys the only two existing copies of a stamp at an auction. After the purchase, the goes to the front of the room and burns one of the stamps in front of the shocked audience. What must the believe in order for this to be a wealth-maximizing action? Explain with a demand-and-supply diagram.
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...