Author Question: The larger the number of bidders in an open outcry Dutch auction, ________. A) the lower is the ... (Read 72 times)

Diane · **on:** Jun 29, 2018

The larger the number of bidders in an open outcry Dutch auction, ________.

A) the lower is the maximum willingness to pay of each bidder
B) the smaller is the consumer surplus earned by the winner
C) the larger is the quantity offered by the auctioneer for auction
D) the lower is the value of the starting bid

Question 2

Suppose the federal government makes it mandatory for employers to provide health insurance to all employees. Assuming the new mandate applies to homebuilders, the

A) demand for construction workers is likely to increase.
B) supply of new homes is likely to increase.
C) supply of new homes is likely to decrease.
D) supply of new homes will remain the same; businesses will simply pass the higher costs on to consumers.