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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Definitions:

Positive Outcomes

Favorable or beneficial results arising from a particular course of action.

Self-Efficacy

The belief in one's ability to succeed in specific situations or accomplish a task.

Emotion-Focused

A coping strategy aimed at managing and dealing with the emotional response to a situation rather than attempting to change the situation itself.

Alarm Stage

The initial phase of the stress response in which the body prepares to fight or flee, marked by increased heart rate, energy mobilization, and alertness.