« previous next »

Author Question: A second-price auction a. is also called an English auction b. is where the highest bidder wins ... (Read 115 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jul 1, 2018
A second-price auction
 a. is also called an English auction
  b. is where the highest bidder wins and pays the amount of the next highest bid
  c. is where the sole remaining bidder wins and pays his winning bid
  d. all of the above

Question 2

Long-run producer surplus in a perfectly competitive industry accrues mainly to:
 a. suppliers of inputs with inelastic supply curves.
  b. suppliers of inputs with elastic supply curves.
  c. firms' owners.
  d. marginal consumers.


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Wood first appeared in plants called progymnosperms. Wood first appeared in plants called progymnosperms.
English Setter English Setter
Top down view of Olympus Mons, the highest known mountain in the solar system Top down view of Olympus Mons, the highest known mountain in the solar system
Endocarditis. The human heart has been sectioned to reveal the left ventricle and origin of the aort Endocarditis. The human heart has been sectioned to reveal the left ventricle and origin of the aort
Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ... Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ...
Cancer cells can move to new locations in the body, a process called metastasis Cancer cells can move to new locations in the body, a process called metastasis
Video: Ear Animation

For a complete list of videos, visit our video library