First Fiddler's Bank has foreclosed on a home mortgage and is selling the house at auction. There are three bidders for the house, Ernie and Betsy. First Fiddler's does not know the willingness to pay of these three bidders for the house, but on the basis of its previous experience, the bank believes that each of these bidders has a probability of 1/3 of valuing it at $700, 00 a probability of 1/3 of valuing at $400, 000, and a probability of 1/3 of valuing it at $300, 000. First Fiddler's believes that these probabilities are independent among buyers, and that Ernie and Betsy are rational bidders. If First Fiddler's sells the house by means of a second-price, sealed-bid auction (Vickrey auction), what will be the bank's expected revenue from the sale? (Choose the closest option.) A) $466, 667
B) $400, 000
C) $300, 000
D) $420, 000
E) $377, 778

Eliza works for a consumer agency educating young people about advertisements. instead of teaching students to carefully read advertisement claims, she encourages them to develop a strong sense of self and to keep their life goals and dreams separate from commercial products. why might eliza's advice make sense?

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?