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Author Question: What is an ascending-value auction?[br][br][b][color=#9E3EA8]Question ... (Read 39 times)

Anajune7

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on: Jun 30, 2018
What is an ascending-value auction?

Question 2

Characteristics shared by monopolistically competitive markets and perfectly competitive markets include:
 a. differentiated products.
  b. advertising.
 c. many sellers.
 d. brand identity.


ju

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

In an ascending value auction, a bidder hopes to win a certain object by bidding a price below his/her valuation (maximum willingness to pay for it) but higher than anyone else's bid.

Answer to Question 2

c


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Anajune7

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Reply #2 on: Jun 30, 2018
Thank you :)


ju

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Reply #3 on: Jun 30, 2018
Happy to help you


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