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Author Question: Which of the following statements is true regarding protocols in various types of auctions? a. An ... (Read 34 times)

Kikoku

  • Hero Member
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on: Jun 30, 2018
Which of the following statements is true regarding protocols in various types of auctions?
 a. An English auction requires bidders to begin with the highest price.
  b. A Dutch auction starts with the lowest price any bidder is willing to pay, which is displayed in a one-handed clock.
  c. In a Dutch auction, the first buyer to bid gets the item at the price shown in the one-handed clock.
  d. In a second-price auction, the second-highest bidder gets the item.

Question 2

If the cost borne by a firm when output is zero is 100 and that of producing 5 units is 250, then the variable cost of the firm is equal to 150.
 a. True
  b. False
  Indicate whether the statement is true or false


Expo

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

True


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