Suppose There Are Four Boats Available at an Auction

question 40

Multiple Choice

Suppose there are four boats available at an auction. The sellers know the quality of their boats but the prospective buyers don't. The buyers know that two of the boats are high-quality and two of the boats are low-quality. Buyers value high-quality boats at $100,000 and low-quality boats at $60,000. Sellers value high-quality boats at $80,000 and low-quality boats at $40,000. If the auctioneer sets a price per boat at $50,000, how many boats and of which type will sellers make available?

• A) all four boats
• B) two high-quality boats
• C) two low-quality boats
• D) one high-quality and one low-quality boat

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Definitions:

Decussation

The crossing over of nerve fibers or pathways in the brain or spinal cord, allowing for the transmission of signals from one side of the body to the opposite side.

Cerebellum

A part of the brain at the back of the skull in vertebrates, responsible for coordinating voluntary movements and maintaining posture and balance.

Cerebral Peduncle

A structure at the base of the brain, consisting of massive bundles of nerve fibers connecting the cerebrum to the brain stem.

Medulla

An inner region of an organ or tissue, especially the medulla oblongata in the brain that controls vital functions, or the central part of the adrenal glands.