Use the Definition of Area as a Limit to Find $f ( x ) = 3 x + 1$

question 53

Essay

Use the definition of area as a limit to find the area of the region that lies under the graph of $f ( x ) = 3 x + 1$ over the interval $0 \leq x \leq 4$ .

Grasp the strategic implications of Vickrey (second-price sealed-bid) auctions for bidders and sellers.

Understand the concept of the winner's curse and its implications for bidding strategy.

Understand the concept of an English auction and how reservation prices affect expected revenue.

Calculate expected revenue in auctions with different setups and bidder valuations.

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