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Anna's Antiques Expects to Get Two Bidders for the Unique

question 40

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Anna's Antiques expects to get two bidders for the unique china teacup it sells.Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability.If Anna holds an auction between the two bidders,and both the bidders have low values,she would earn ___ from the auction.


Definitions:

Diversity Practices

Strategies and actions taken by organizations to promote and support diversity within the workforce.

Women Participation

The involvement or engagement of women in various activities, including but not limited to employment, politics, and education.

Self-Fulfilling Prophecy

Someone’s high expectations for another person result in high performance.

Discrimination

Unfair or prejudicial treatment of people based on characteristics such as race, age, sex, or disability.

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