Author Question: Internet auctions a. allow specialized sellers to reach many customers at low cost b. allow ... (Read 70 times)

burchfield96 · **on:** Jun 30, 2018

Internet auctions
a. allow specialized sellers to reach many customers at low cost
b. allow specialized buyers to reach many sellers at low cost
c. always take the form of a Dutch auction
d. always take the form of an English open outcry auction
e. are rapidly being replaced by continuous open outcry auctions

Question 2

Compared to a perfectly competitive market, a monopoly tends to produce
a. more output and charge a higher price
b. the same amount of output, but charge a higher price
c. less output and charge a higher price
d. less output and charge the same price
e. less output and charge a lower price