What is a Dutch auction?
What will be an ideal response?
A Dutch auction is an open outcry auction in which the price decreases until a bidder stops the auction; that is, the auctioneer begins the bidding at an offer price above any bidder's value and lowers the price until someone purchases the item. The first person who bids who ends the auction, wins the item, and pays his or her bid.
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A government policy that charges coal producers a fee per ton of coal produced (an "effluent charge"), where the fee is determined by the amount of pollutants discharged into the air or water, will lead to a(n):
a. decrease in the market equilibrium quantity of coal produced. b. decrease in the market equilibrium price of coal. c. increase in the market equilibrium price of coal. d. a and c are correct.
The linear probability model always contains heteroskedasticity when the dependent variable is a binary variable unless all of the slope parameters are zero.
Answer the following statement true (T) or false (F)