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

Author Question: What is a Dutch auction? What will be an ideal response?[br][br][b][color=#FBB117]Question ... (Read 45 times)

LaDunn

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
What is a Dutch auction?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is 1
 
  A) not enough consumers want to buy iced tea.
  B) the quantity supplied is economically efficient but the quantity demanded is economically inefficient.
  C) economic surplus is maximized.
  D) the quantity supplied is less than the economically efficient quantity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickybb89

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A Dutch auction is an open outcry auction in which the price decreases until a bidder stops the auction; that is, the auctioneer begins the bidding at an offer price above any bidder's value and lowers the price until someone purchases the item. The first person who bids who ends the auction, wins the item, and pays his or her bid.

Answer to Question 2

D


LaDunn

  • Member
  • Posts: 526
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Seedling growth showing the triple response to ethylene. Seedling growth showing the triple response to ethylene.
Operations Management question: Operations Management question:
economic question economic question
economic question economic question
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Origin of organelles Animation

For a complete list of videos, visit our video library