r of rare antique books wants to sell a book from her collection on eBay. Disc ving decisions, considering the characteristics of the item for sale and d market for this item: en offering the book in a regular auction, what should the start price of the auct en offering the book at a fixed posted price, would the optimal posted price ve or below the optimal start price of an auction in part (a)? uld the item be offered in a regular auction or at a fixed posted price?
r of rare antique books wants to sell a book from her collection on eBay. Disc ving decisions, considering the characteristics of the item for sale and d market for this item: en offering the book in a regular auction, what should the start price of the auct en offering the book at a fixed posted price, would the optimal posted price ve or below the optimal start price of an auction in part (a)? uld the item be offered in a regular auction or at a fixed posted price?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Question 6
A collector of rare antique books wants to sell a book from her collection on eBay. Discuss
the following decisions, considering the characteristics of the item for sale and the
anticipated market for this item:
(a) When offering the book in a regular auction, what should the start price of the auction
be?
(b) When offering the book at a fixed posted price, would the optimal posted price be
above or below the optimal start price of an auction in part (a)?
(c) Should the item be offered in a regular auction or at a fixed posted price?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feeb16801-df58-4eb1-855e-d9632fabd7d0%2Ffa02fb48-3b63-4431-a6a0-0dacf062ed08%2Flcyk0r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 6
A collector of rare antique books wants to sell a book from her collection on eBay. Discuss
the following decisions, considering the characteristics of the item for sale and the
anticipated market for this item:
(a) When offering the book in a regular auction, what should the start price of the auction
be?
(b) When offering the book at a fixed posted price, would the optimal posted price be
above or below the optimal start price of an auction in part (a)?
(c) Should the item be offered in a regular auction or at a fixed posted price?
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