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olasank [31]
1 year ago
8

Identify something you buy or sell that could be bought or sold using an auction. How would you run the auction? Do a benefit-co

st analysis of the auction relative to how you currently buy or sell?
Business
1 answer:
denis-greek [22]1 year ago
6 0

There are various things that could be bought or sold by an auction such as Collectibles and art, antiques, real estate sporting goods etc.

There are several ways to conduct an auction, but the first-price auction and second-price sealed-bid auctions are the most common. In first-price auctions, the person whose bid is highest than the base offer will win the auction. The highest bidder in a sealed-bid auction with a second price pays for the second-highest bid. If there are several bidders on a piece of real estate, for instance, the property will go to the highest bidder, but in this situation, the highest bidder will only have to pay the price of the second-highest bid.

The cost-benefit analysis indicates that auctions will aid in the sale of the rare products at a price over its minimum worth, based on the cost-benefit analysis. The best profit will therefore be made in this situation, but the consumer surplus is still positive.

Learn more about auction here:

brainly.com/question/14836880

#SPJ4

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Explanation:

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3 years ago
Match each stage of the business life cycle to its corresponding description.
slega [8]

The business life cycle corresponds to the stages that a business goes through throughout its existence in the market, which are existence, survival of the fittest, success, take-off and maturity. The correct sequence for this question is C B D A E.

<h3>Maturity</h3>

The business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name.

<h3>Takeoff</h3>

Expansion strategies are implemented, and investment is balanced with potential.

<h3>Existence</h3>

The business introduces itself to the market and attempts to catch the attention of potential customers.

<h3>Success</h3>

Company is stable and profitable.

<h3>Survival of the Fittest</h3>

Focus shifts to revenue, expenses, and growth. Cashflow is the major issue.

Therefore, the business life cycle will help management to manage its resources according to the business phase and make more effective decisions for competitiveness and organizational positioning.

The correct answer is:

C. Maturity

B. Takeoff

D. Existence

A. Success

E. Survival of the Fittest

Find out more information about  business life cycle here:

brainly.com/question/25754149

8 0
2 years ago
For an automobile company, the total overhead applied was $48,000,000 at the end of the year. Actual overhead was $52,850,000. C
ICE Princess25 [194]

Answer:

Net income decreased by $4,850,000.

Explanation:

Given total overhead applied = $48000000

The actual overhead = $52850000

Over/under Applied overhead = total overhead applied - Actual overhead at the end of the year.

Over / under Applied overhead = 48000000-52850000

Over / under Applied overhead = -$4850000

From the calculation, it can be seen that the overhead is underapplied therefore when under applied overhead allocated to cost of goods sold then cost of goods sold decreased by $4850000.

4 0
3 years ago
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