Author Question: A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder ... (Read 51 times)

jrubin · **on:** Jun 29, 2018

A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder stops the auction.

A) open outcry English auction
B) open outcry Dutch auction
C) silent auction
D) penny auction

Question 2

Compared to the free-market outcome, if the production of wheat were subsidized by the government,

A) the supply of wheat would increase.
B) the quantity supplied of wheat would increase.
C) the quantity demanded of wheat would increase.
D) all of the above would occur.
E) none of the above would occur.