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

Author Question: What is the difference between the two types of sealed-bid auctions? What will be an ideal ... (Read 68 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 29, 2018
What is the difference between the two types of sealed-bid auctions?
 
  What will be an ideal response?

Question 2

Refer to the table above. If the rental price of machines is 100 per day, up to how many machines should the firm rent to maximize profits?
 
  A) 4
  B) 5
  C) 6
  D) 7


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cadimas

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 29, 2018
Answer to Question 1

The two types of sealed-bid auctions are first-price sealed-bid auctions and second-price sealed-bid auctions. In a first-price sealed-bid auction, each bidder submits his bid privately. The highest bidder wins and pays an amount equal to his bid. In a second-price sealed-bid auction, each bidder submits his bid privately. The highest bidder wins and pays an amount equal to the second-highest bid.

Answer to Question 2

B


Beheh

  • Member
  • Posts: 520
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Types of muscle tissue. Types of muscle tissue.
Six types of synovial joints. Six types of synovial joints.
Types of Volcanoes Types of Volcanoes
Types of Synovial Joints Types of Synovial Joints
Various types of genetic mutations Various types of genetic mutations
Video: Status Epilepticus

For a complete list of videos, visit our video library