Author Question: What is an English auction? What will be an ideal response?[br][br][b][color=black]Question ... (Read 26 times)

PhilipSeeMore · **on:** Jun 29, 2018

What is an English auction?

What will be an ideal response?

Question 2

Because Corning produces durable goods, the demand for their goods

A) declines when incomes in the economy are rising.
B) is likely to increase during recession.
C) is consistently high, regardless of the state of the economy.
D) tends to follow the business cycle.

sarahccccc · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

An English auction is an open outcry auction in which the price increases until there is only one standing bid. That bidder wins the item and pays his or her bid.

Answer to Question 2

D