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

question 135

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,the winning bidder's economic surplus will be ________.

• A) $450.
• B) $250.
• C) $200.
• D) $50.
• E) $0.

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Definitions:

Dispatching Rule

A guideline or policy used in scheduling to determine the order in which jobs or tasks are assigned to resources, aiming to optimize a certain objective.

Critical Ratio

A scheduling or prioritization technique that calculates the ratio of the time remaining until a task's due date to the time required to complete the task, used to order tasks by urgency.

Due Date

The specified date by which a task, project, or payment is required to be completed or submitted.

Priority Rule

A guideline or criterion used to determine the sequence in which tasks or operations will be carried out in a process or system.