When the Expected Value of Searching Increases

question 32

Multiple Choice

When the expected value of searching increases,

• A)fewer searches occur.
• B)the number of searches does not change.
• C)more searches occur.
• D)the cost of searching falls.

---

Definitions:

Mailbox Rule

A legal doctrine stating that an offer is considered accepted at the moment the acceptance is dispatched, not when it is received by the offeror.

Common Law

A legal system based on precedent and court decisions, rather than written laws and statutes.

Reasonable Amount

A quantity or level of something considered to be within sensible limits.

Auction Without Reserve

An auction in which there is no minimum bid required to win the item being auctioned, meaning the highest bidder will win regardless of the bid amount.