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Author Question: Per-unit transaction costs: a. may cause the demand and supply curves to shift either inward or ... (Read 39 times)

j.rubin

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on: Jul 1, 2018
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


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todom5090

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

d


j.rubin

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Reply #2 on: Jul 1, 2018
Thank you


todom5090

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Reply #3 on: Jul 1, 2018
No problemo


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