mcq31

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University of Mississippi *

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442

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Economics

Date

Jan 9, 2024

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1

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What is an example of a well-known mechanism used in market design for allocating resources efficiently? a. Random selection b. First-come, first-served c. Bidding wars d. Price ceilings Which characteristic is typically associated with a well-designed market? a. Monopoly power b. High barriers to entry c. Efficient allocation of resources d. Lack of competition What is the primary purpose of market rules and regulations in market design? a. To stifle innovation b. To promote collusion among market participants c. To ensure fair and orderly market functioning d. To eliminate all forms of risk in trading What is the "winner's curse" in auction theory? a. The feeling of regret experienced by the winner of an auction b. The tendency for auction winners to overpay c. The curse placed on the losing bidders d. The belief that winning an auction brings bad luck
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