In an oral public sale in which the bidders' values are $four hundred, $500, $650, $800, and $850, the very best two bidders shape a bid-rigging cartel. the winning bid in this auction is 651 greenbacks.
If there may be no cartel, the winning bid might be any quantity slightly extra than $800, say $800.01 due to the fact the bidder with the best valuation needs to bid a price this is extra than the alternative bids. however due to the fact, that there may be a cartel among bidders with a valuation of $800 and $850, they need to put up a bid this is barely extra than $650 with a view to winning the auction. In this sense, the triumphing bid is 651 greenbacks.
if you make the triumphing bid on an object, you provide the highest fee and get to take it home. Congratulations, and revel in your new paperweight! The bid comes from an antique English word that means “to provide,” that's right consistent with what that means these days. triumphing Bid manner the very best bid obtained and widespread (and if subject to vendor's affirmation, confirmed by using vendor).
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Answer: Variable cost; should be considered
Explanation:
For a nail salon, the costs associated with the purchase of nail polish and other products like polish remover and disposable flip flops are examples of variable costs. These should be considered when building a MCS.
Variable costs are the costs that varies with production. They are the opposite of fixed costs which are fixed. The nail polish and other products like polish remover and disposable flip flops are variable costs because the amount that'll be bought depends on the available customers and therefore isn't fixed.
Answer:
¥192/€1.00
Explanation:
In order to determine the cross rate, we need a formula such that the dollar sign in one exchange rate cancels the other dollar sign in the second exchange such that we are left with both Yen and the Euro as shown by the formula below:
S(€/¥) = S($/¥) / S($/€)
S($/¥) =$1/¥120
S($/€)=$1.60/ €1.00
S(€/¥) =($1/¥120)/($1.60/ €1.00)
if we change the division to multiplication we would have the below
S(€/¥) =$1/¥120*€1.00/$1.60
S(€/¥) =€0.005208333
This means that €0.005208333
=1¥
1¥/ €0.005208333=¥192
Answer:
Equilibrium price and quantity would fall
Explanation:
Substituite goods are goods that can be consumed in place of each other. If the price of a good increases, consumers can easily subsituite to the other good.
If cappuccinos and lattés are subsituites, if the price of cappuccinos falls, the demand for cappuccinos would increase and the demand for lattes would fall because lattes are now relatively more expensive than cappuccinos.
The fall in demand leads to a fall in quantity demanded and price.
I hope my answer helps you.
Answer:
Explanation:
I wouldn't.
The business has drawn a rigid line in the sand. It has to maintain its standard. I might try and make a deal with the customer. "Come up with x% for a down payment."
If the score is high (like over 750), I would likely stretch my standard. 750 is a pretty high score and if you have that kind of a number, you know how to pay things back.
