Micro 4.1-Intro To Market Structure

Last updated about 1 year ago

5 questions

So today we will have a game of some TOTALLY FABULOUS PRIZES! The rules are simple. Each person has 100 BBs (Burbonian Bucks)! You goal is to win a prize. There is NO prize for Leftover BURBONIAN BUCKS! However, to create a twist, once your BID for an item, those Burbonian BUCKS are GONE. For example, if you are willing and able to spend 50 BBs on a prize, then you would only have 50 BBs left for all remaining game play.  (Side note: The Auctioneer has NOT and will NOT released information on the number of units available for each bidding item NOR the number of rounds....so holding onto your BBs can be helpful or hurtful. In addition, do not assume that 1BB = $1 as an image with Mr. B's face is NOT legal tender in the US.)

Round 1! Place your bids for 10 individually wrapped mints! Bid as many or as little BBs as you like!

Round 1! Place your bids for this candy bag! Nothing exciting, just some homogenous mints. How much of your 100 BBs are you willing and able to spend! After stating your price, cut off the percentage of your BB bill that represents the number of BBs you have pledged toward this bag of candy. (For example, you are willing to pay 50 BB, then cut your bill in half.)

Round 2! NOT only do we have lifesavers, but now they come in a variety of colors and flavors!!!! Accept NO substitutions and enjoy this totally amazing treat! Repeat the process of cutting the remainder of your BB from the first round.

Round 3! How much are you willing and able to spend on amazing bag of minty fresh mints, colorful lifesavers, and a tootsie pop! (Repeat the cutting process from candy bags #1 and #2). The price is $75 Burbine Bucks!

Round 4! No advertizing needed! For sale, one bag of minty fresh mints, colorful lifesavers, a tootise pop, and a 1 of a kind Hershey Candy Bar! (Repeat the cutting process from candy bags #1 and #2). The price is $300 Burbine Bucks!

Micro 4.1-Intro To Market Structure

Round 2! NOT only do we have lifesavers, but now they come in a variety of colors and flavors!!!! Accept NO substitutions and enjoy this totally amazing treat! Repeat the process of cutting the remainder of your BB from the first round.

Round 3! How much are you willing and able to spend on amazing bag of minty fresh mints, colorful lifesavers, and a tootsie pop! (Repeat the cutting process from candy bags #1 and #2). The price is $75 Burbine Bucks!

Round 4! No advertizing needed! For sale, one bag of minty fresh mints, colorful lifesavers, a tootise pop, and a 1 of a kind Hershey Candy Bar! (Repeat the cutting process from candy bags #1 and #2). The price is $300 Burbine Bucks!

I won some candy!!!