Describe how EBay is a market-place guided by price.How does it coordinate economic behavior between buyers and sellers?

Read the following article: Hasker, K. and R. Sickles. (2010). eBay in the Economic Literature: Analysis of an Auction Marketplace. Review of Industrial Organization, 37(1):3-42. address the following questions: 1. Describe how EBay is a market-place guided by price.How does it coordinate economic behavior between buyers and sellers? 2. Examining an EBay auction, describe how the winning bid of a successful auction establishes an equilibrium price.How was utility maximizing behavior relevant to the winning consumer?How was profit maximizing behavior relevant to the seller? 3. If an internet sales tax had to be paid, how would this alter the equilibrium in given EBay auction? 4. Review Hasker et al. (2010) analysis of E-Bay and review of research on EBay.What behaviors or events could cause E-Bay auctions to fail?In your opinion, are user feedback listings and rankings sufficient to overcome this possibility? 5.Discuss at least one finding that you found interesting from Hasker et al. (2010) analysis of E-Bay auctions.