« previous next »

Author Question: A second-price auction a. is also called an English auction b. is where the highest bidder wins ... (Read 112 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jul 1, 2018
A second-price auction
 a. is also called an English auction
  b. is where the highest bidder wins and pays the amount of the next highest bid
  c. is where the sole remaining bidder wins and pays his winning bid
  d. all of the above

Question 2

Long-run producer surplus in a perfectly competitive industry accrues mainly to:
 a. suppliers of inputs with inelastic supply curves.
  b. suppliers of inputs with elastic supply curves.
  c. firms' owners.
  d. marginal consumers.


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

English Cocker Spaniel English Cocker Spaniel
English and Dani basic color terms. English and Dani basic color terms.
Alan Price - Poor People Alan Price - Poor People
Vocabulary Development in English Monolinguals (EL1) and English Language Learners (ELL) Vocabulary Development in English Monolinguals (EL1) and English Language Learners (ELL)
What are the highest virtues? What are the highest virtues?
The illusory bands visible in this figure are often called Mach bands, although Mach used a ... The illusory bands visible in this figure are often called Mach bands, although Mach used a ...
Video: hGH (protein synthesis, growth and development)

For a complete list of videos, visit our video library