NYC Economic Assingment Help With Solution

NYC Economic Assingment Help With Solution

1. Consider a seller auctioning an object via a second-price sealed-bid auction. There are 2 bidders whose valuations are independently drawn from a uniform distribution on [0; 1]. Assume that the seller attaches a value of zero to the object.
(a) What is the equilibrium of the game if the bidders use weakly-dominant strategies?
(b) What is the seller’s expected revenue?
(c) Suppose now that the seller’s sets a reserve price r equal to 1/2 . Compute the seller’s new expected revenue.
(d) Suppose a new bidder arrives. This new bidder is willing to participate in the auction only if the seller removes the reserve price (i.e., r = 0). Should the seller let this third bidder into the auction and remove the reserve price?
2. Consider a third-price sealed-bid auction with n bidders. This is an auction where the highest bidder wins but only pays the third-highest bid. Let the bidders’valuations be independently drawn from a uniform distribution on [0; 1] and assume that bidders use linear strategies of the following form
b (v) = v, with >>0:
(a) Use the Revenue Equivalence Theorem to derive an explicit expression for .
(b) What is the seller’s expected revenue for n = 5?


How it Works

How It works ?

Step 1:- Click on Submit your Assignment here or shown in left side corner of every page and fill the quotation form with all the details. In the comment section, please mention product code mentioned in end of every Q&A Page. You can also send us your details through our email id with product code in the email body. Product code is essential to locate your questions so please mentioned that in your email or submit your quotes form comment section.
Step 2:- While filling submit your quotes form please fill all details like deadline date, expected budget, topic , your comments in addition to product code . The date is asked to provide deadline.
Step 3:- Once we received your assignments through submit your quotes form or email, we will review the Questions and notify our price through our email id. Kindly ensure that our email id and must not go into your spam folders. We request you to provide your expected budget as it will help us in negotiating with our experts.
Step 4:- Once you agreed with our price, kindly pay by clicking on Pay Now and please ensure that while entering your credit card details for making payment, it must be done correctly and address should be your credit card billing address. You can also request for invoice to our live chat representatives.
Step 5:- Once we received the payment we will notify through our email and will deliver the Q&A solution through mail as per agreed upon deadline.
Step 6:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.


Features for Assignment Help

Zero Plagiarism
We believe in providing no plagiarism work to the students. All are our works are unique and we provide Free Plagiarism report too on requests.


We believe in providing perfect, relevant and 100% accurate solutions to the student as per questions asked. All our experts are perfect in providing that so as to give unique experience to the students.


Three Stage Quality Check
We are the only service providers boasting of providing original, relevant and accurate solutions. Our three stage quality process help students to get perfect solutions.



100% Confidential
All our works are kept as confidential as we respect the integrity and privacy of our clients.

Related Services

3. Twenty …ve di¤erent stores sell the same product in a given area to a population of two thousand consumers. Consumers are equally likely to …rst visit any of the twenty five stores. Half of the consumers have no search costs, are willing to pay up to $45 to buy one unit of the product and purchase at the lowest price. The other half is willing to buy one unit of the product up to a maximum of $70 and must incur a cost of $44 in order to …nd out about the prices charged by other stores. Each store can sell up to 90 units and has a unit cost of $25.
(a) Argue that, in equilibrium, there exist at most two di¤erent prices.
(b) Argue that, if there exist two di¤erent equilibrium prices, then the higher price must be 70.
(c) Show that the following is an equilibrium: 5 …rms set a price of 70 and the remaining 20 …rms set a price of 45.
4. The inverse market demand for widgets in NYC is p = 120 􀀀 2Q. The manufacturer licenses a single dealer to sell widgets in NYC. Therefore, the dealer acts as a monopolist in the NYC market. The manufacturer sells each widget to the dealer for $d > c, where c = $40 is the cost of producing each widget. In addition, the manufacturer may levy a fixed fee of $ on the dealership.
Consider a two-stage game in which in Stage I the manufacturer sets the per-unit price charged to the dealer d, and the …xed fee . In Stage II the dealer determines the quantity to sell in order to maximize its pro…ts.
(a) Suppose the unit price the manufacturer charges the dealer d is given (determined in the …rst stage of the game). Also, suppose that the manufacturer does not charge the dealership any …xed fee, that is = 0: Compute the dealer’s profit- maximizing sales of widgets as a function of d.
(b) Compute the manufacturer’s pro…t-maximizing price d it charges the dealer for each widget sold.
(c) Compute quantity of widgets sold by the dealer, and the price p charged to buyers.
(d) Compute the pro…ts made by the dealer and the manufacturer.
(e) Can you …nd a price d and a …xed fee such that both the manufacturer and the dealer, make higher profits than the ones you found in (d)?
5. Suppose that the price a monopolist may charge, p, is a function of its output q and advertising level . That is, the inverse demand curve is p = + a 􀀀 bq.
The firm’s costs are the sum of its production costs, C (q) = cq and its advertising costs, , where $1 of advertising costs $1. That is, its total cost is cq + ..
(a) Determine the optimal levels of advertising and output.
(b) Compare the output you obtained in part (a) with the optimal output without advertising (i.e., = 0). Is the …rm producing more or less output with advertising?


Product Code :Eco35

To get answer for this question, kindly click here (Note: Don’t forget to write the product code in comment section)

You can also email us at but please mentioned product code in the mail body while sending emails.You can browse more questions to get answer in our Q&A sections here.