Tim Has Just Inherited a Signed Wayne Gretzky Hockey Jersey,which

question 68

Multiple Choice

Tim has just inherited a signed Wayne Gretzky hockey jersey,which he would like to sell.His reservation price for the jersey is $500,and he can either place an ad in the local newspaper for $10 or sell the jersey on eBay,which will charge him 5% of the selling price.The local buyer with the highest reservation price is willing to pay $750 at most,while the two eBay bidders with the highest reservation prices are willing to pay $1,200 and $1,000,respectively.(Note that,in an eBay auction,the bidder with the highest reservation price wins,and the price paid is the reservation price of the second-highest bidder. )
-Refer to the information above.If Tim sells his jersey on eBay,it will sell for ________ and Tim will receive ________ after the eBay commission is paid.

• A) $1,200;$1,150
• B) $1,200;$1,140
• C) $1,000;$950
• D) $1,000;$900
• E) $750;$740

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