Consider an antique auction where bidders have independent private values. there are two bidders, each of whom perceives that valuations are uniformly distributed between $100 and $1,000. one of the bidders is sue, who knows her own valuation is $200. what is sue's optimal bidding strategy in a first-price, sealed-bid auction? a) submit a bid of $150. b) submit a bid of $200. c) submit a bid that is less than $150. d) yell "mine" when the bid reaches $150.

For each example identify the most appropriate ctso

Arestaurant that creates a new type of sandwich is using (blank) as a method of competition.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?