This topic contains a solution. Click here to go to the answer

Author Question: Per-unit transaction costs: a. may cause the demand and supply curves to shift either inward or ... (Read 85 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
Per-unit transaction costs:
 a. may cause the demand and supply curves to shift either inward or outward depending on the value obtained from transaction agents.
  b. refer only to the commission paid to a third-party for each transaction made.
  c. are absorbed by the party seeking the transaction.
  d. have the same effect on behavior as do lump-sum transaction costs; the difference in terminology is purely definitional.

Question 2

Appendix: Auctions are used in place of markets when the items traded are unique (e.g., a Ming vase or a right to drill for oil). Which of the following examples are typically sold using Vickrey auction methods?
 a. For-sale-by-owner houses
  b. Household furnishings
  c. Items sold in Filene's Basement, with the price discounted after a certain date
  d. Vintage postage stamps



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

todom5090

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

a

Answer to Question 2

d





 

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

For a complete list of videos, visit our video library