An auction for mineral rights on an unexploited oilfield can be characterized as

An auction for mineral rights on an unexploited oilfield can be characterized as
 a. A common value auction
  b. A private value auction
 c. Highest value
 d. None of the above

QUESTION 2

In the IO perspective, it is important to enter an industry with
 a. High barriers to entry
  b. Low buyer power
 c. Low supplier power
 d. All of the above

QUESTION 3

In a common-value auction
 a. Every bidder knows the exact value of the item being auctioned
  b. Each bidder knows everyone else's value of the item
 c. The value of the item is different for all the bidders
 d. None of the above

QUESTION 4

The RBV perspective locates the source of competitive advantage for a firm at the
 a. Individual firm level
  b. Industry level
 c. Customer Level
 d. None of the above

QUESTION 5

In a common-value auction
 a. Every bidder knows the exact value of the item being auctioned
  b. Each bidder knows everyone else's value of the item
 c. The value is the same for all the bidders
 d. All of the above

QUESTION 6

The IO Economics perspective locates the source of competitive advantage for a firm at the
 a. Individual firm level
  b. Industry level
 c. Customer Level
 d. None of the above

QUESTION 7

In a common-value auction
 a. Every bidder knows the exact value of the item being auctioned
  b. Each bidder only has an estimate of the value of the item
 c. The value is different for each bidder
 d. All of the above

QUESTION 8

It is more profitable for a firm to be_______ than ________
 a. In perfect competition; monopolists
 b. A monopolists; in perfect competition
  c. Not in business; in business
 d. All of the above