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
b
Economics
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An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) one-firm monopoly.
Economics
Which of the following will increase the real interest rate?
A) an increase in household saving B) an increase in the demand for loanable funds C) an increase in the budget surplus D) an increase in the supply of loanable funds
Economics