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Suppose 100 people at an auction are bidding on a piece of land that is known to contain silver deposits.The low bid is $3 million, the average bid is $5 million, and the high bid is $9 million.What is the value of the winner's curse?

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MCQs on math-based economics problems in both macroeconomics and microeconomics by covering concepts in precalculus and calculus.
 


Suppose 100 people at an auction are bidding on a piece of land that is known to contain silver deposits.The low bid is $3 million, the average bid is $5 million, and the high bid is $9 million.What is the value of the winner's curse?





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