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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,the winning bidder's economic surplus will be ________.
United States
A country located in North America, known for its economic and military strength as well as its cultural influence globally.
Electronic Stores
are retail outlets or e-commerce websites that specialize in selling electronic goods and gadgets.
Retail Sales
Transactions of goods or services from businesses to end consumers.
United States
A country located in North America, comprising 50 states and known for its significant impact on global culture, economy, and politics.
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