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Author Question: What are the different types of auctions based on how people place their bids? What will be an ... (Read 58 times)

2125004343

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on: Jun 29, 2018
What are the different types of auctions based on how people place their bids?
 
  What will be an ideal response?

Question 2

Refer to the figure above. What is the optimal number of machines rented if the market rental price is 5 per month?
 
  A) 20 machines
  B) 40 machines
  C) 80 machines
  D) 100 machines


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amynguyen1221

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Reply #1 on: Jun 29, 2018
Answer to Question 1

There are two different types of auctions based on how people place their bids. These are open outcry auctions and sealed-bid auctions. In open outcry auctions, bids are placed publicly and the bidders compete directly against each other. In a sealed-bid auction, all bids are private and unknown to the other bidders.

Answer to Question 2

C


2125004343

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Reply 2 on: Jun 29, 2018
Wow, this really help

bbburns21

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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