You are a bidder in an independent private values auction, and you value the object at $3,000. each bidder perceives that valuations are uniformly distributed between $1,000 and $8,000. determine your optimal bidding strategy in a first-price, sealed-bid auction when the total number of bidders (including you) is:

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of