This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a Dutch auction? What will be an ideal response?[br][br][b][color=#FBB117]Question ... (Read 36 times)

LaDunn

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
What is a Dutch auction?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is 1
 
  A) not enough consumers want to buy iced tea.
  B) the quantity supplied is economically efficient but the quantity demanded is economically inefficient.
  C) economic surplus is maximized.
  D) the quantity supplied is less than the economically efficient quantity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickybb89

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A Dutch auction is an open outcry auction in which the price decreases until a bidder stops the auction; that is, the auctioneer begins the bidding at an offer price above any bidder's value and lowers the price until someone purchases the item. The first person who bids who ends the auction, wins the item, and pays his or her bid.

Answer to Question 2

D


LaDunn

  • Member
  • Posts: 526
Reply 2 on: Jun 29, 2018
Wow, this really help

milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Three of the color variants found at Fossil Rim Wildlife Center in Texas Three of the color variants found at Fossil Rim Wildlife Center in Texas
(A) Major leukocytes. (B) Enhanced color photograph from a scanning electron microscope of a ... (A) Major leukocytes. (B) Enhanced color photograph from a scanning electron microscope of a ...
How to solve a word problem involving trigonometric models (Question 1) How to solve a word problem involving trigonometric models (Question 1)
The study of how traits such as flower color are passed from generation to generation provided the m The study of how traits such as flower color are passed from generation to generation provided the m
economic question economic question
economic question economic question
Video: Carpal Tunnel Syndrome

For a complete list of videos, visit our video library