Imagine you are a buyer in a double oral auction with a reservation value of $17 and there is a seller asking for $11
if you accept this offer, you will gain $ (enter your answer as an integer)
if you are the only buyer, and you know that the lowest ask price is $3, should you accept this offer?
a. yes, since you will gain $14.
b. no, as the only buyer you can extract a lower ask price.
c. yes, accepting an offer from any other seller will reduce your surplus.
d. both a and c are correct.

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.