In a Dutch auction, the ________ wins the good
A) bidder who bids up to his value for the good
B) bidder who stops the auction
C) bidder with the lowest value for the good
D) second bidder
B
You might also like to view...
Equilibrium market prices for capital and labor are $10 and $8, respectively. Then, the economy experiences one or more supply shocks, so that the marginal product of capital is $9, and the marginal product of labor is $6
Assuming that the available quantities of capital and labor are fixed, which of the following is (are) likely to decrease as the economy approaches its new equilibrium? A) economic profits B) real rental price of capital C) total output D) the quantity of capital in use E) none of the above
A financial instrument would include:
A. only a written obligation and a specified date. B. only a written obligation and a transfer of value. C. a written obligation, a transfer of value, a specific date for payment, uncertain conditions. D. a written obligation, a transfer of value, a future date, and certain conditions.
If a country is a net importer of a good, domestic suppliers will supply ________ of that good after it opens itself to international trade.
A. none B. less C. more D. the same amount
The dividend earned by a domestic resident on a stock owned in a foreign company is an example of a(n) ________
A) import by the domestic resident B) factor payment received from foreigners C) transfer payment received from foreigners D) export by the domestic resident