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svlad2 [7]
2 years ago
12

9)What is the dominant strategy for bidders in an English oral auction?9)A)Bid until the previous bid price equals the reservati

on price of the last bidder.B)Keep bidding until all other bidders quit, regardless of your reservation price.C)Bid until the first-price and second-price bids are equal.D)Stop bidding once the price exceeds your reservation price.
Business
1 answer:
Sophie [7]2 years ago
3 0

Answer: B) Keep bidding until all other bidders quit, regardless of your reservation price.

Explanation: Familiar to English auctions, the bidders are aware of the prices of items on sale and the numbers of other bidders. This price is known as the reserve or reservation price which is the limit on the price of the item on sale set by the seller (that is the lowest price the seller is willing to sell the item). The bids start at a low price and keeps coming in until there are no more bids irregardless of the reservation price set. It probably depends on how much you value the item on sale and are willing to pay for it. Not necessarily on the reservation price.

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2 years ago
The entry to record the receipt of payment within the discount period on a sale of $2,500 with terms of 2/10, n/30 will include
Korolek [52]

The entry to record the receipt of payment is  $2,590 in accounts receivable.

What is Trade discount?

Trade discounts, also known as functional discounts, are payments made to distribution channel participants in exchange for completing a task. Storage and shelf stocking are two examples of these tasks. Trade discounts are sometimes bundled to cover a variety of services. For instance, 20/12/5 may stand for 20% off for storing the merchandise, 12% more off for shipping, and 5% more off for keeping the shelves filled.

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3 0
10 months ago
In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?a. 9.6% lower b
serg [7]

Answer:

d. 10.6% higher

Explanation:

Given that;

Real GDP = $13.2 trillion

Nominal GDP = $14.6 trillion

GDP deflator = (Nominal GDP/Real GDP)× 100)

Hence,

GDP deflator = (14.6 / 13.2 ) × 100

GDP deflator = 110.6%

Thus,

= 110.6 - 100

= 10.6% higher

5 0
2 years ago
Accounts receivable arising from sales to customers amounted to $100,000 and $70,000 at the beginning and end of the year, respe
mote1985 [20]

Answer:

The cash collected from customers = $230,000

Explanation:

The cash collected from customers to be reported on a direct method statement of cash flows is = Net sales + decrease in accounts receivable.

or, Net sales - Increase in accounts receivable

Given,

Net sales = $200,000

Beginning accounts receivable = $100,000

Ending accounts receivable = $70,000

Decrease in accounts receivable = $100,000 - $70,000 = $30,000

Putting the values into the formula, we can get

Net sales + decrease in accounts receivable

$200,000 + $30,000 = $230,000

The cash collected from customers = $230,000

5 0
3 years ago
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