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University of Mississippi *

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FIN 341

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Economics

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Jan 9, 2024

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What is market design? a. Aesthetic planning of marketplaces b. Creating a visually appealing market c. Structuring rules and incentives for market transactions d. Designing marketing materials Which of the following is a key goal of market design? a. Maximizing advertising revenue b. Minimizing government intervention c. Ensuring efficiency and fairness in markets d. Promoting monopolistic practices In market design, what does the term "double auction" refer to? a. An auction where two identical items are sold simultaneously b. An auction where both buyers and sellers submit bids and offers c. An auction where the winning bid is doubled d. An auction with two rounds of bidding What is the purpose of a clearinghouse in market design? a. To organize market events b. To match buyers with sellers and facilitate transactions c. To provide market analysis reports d. To set maximum prices for goods and services Which economic concept does market design often seek to address? a. Hyperinflation b. Market equilibrium c. Fiscal policy d. Foreign exchange rates

What is the role of an auctioneer in market design? a. Setting prices based on market demand b. Facilitating communication between buyers and sellers c. Implementing government regulations in the market d. Promoting specific brands in the market Which market structure does market design aim to create for optimal efficiency? a. Oligopoly b. Monopoly c. Perfect competition d. Monopsony What is the significance of the "clock auction" in market design? a. It determines the opening and closing times of markets b. It sets the time limit for bidding in an auction c. It is a type of auction where bids are placed at specific time intervals d. It regulates the trading hours of financial markets Which characteristic is associated with a well-designed market? a. Limited competition b. Information asymmetry c. Clear property rights and contracts d. Price fixing What is the primary focus of market design in the context of matching markets? a. Maximizing profits for sellers b. Ensuring efficient allocation of resources c. Controlling market volatility

d. Minimizing the number of transactions

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