Which of the Following Is a Difference Between an English

question 123

Multiple Choice

Which of the following is a difference between an English auction and a Dutch auction?

• A) Bids are placed publicly in an English auction, while bids are placed privately in a Dutch auction.
• B) The bidder who values the good the most wins in an English auction, while the bidder who values the good the least wins in a Dutch auction.
• C) An English auction is an ascending price auction, while a Dutch auction is a descending price auction.
• D) An English auction is a descending price auction, while a Dutch auction is an ascending price auction.

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Definitions:

Variable Inputs

Production factors that can be adjusted in the short term to change the level of output, such as labor and raw materials.

Short Run

A period of time in which at least one input in the production process is fixed, influencing decisions made by firms about production levels.

Plant Capacity

Plant capacity refers to the maximum output a manufacturing or production facility can achieve under normal conditions within a given time period.

Fixed Input

A resource or factor of production whose quantity remains constant regardless of the level of output or activity.