At an auction of antiques, a bidder for a particular porcelain statue would be trying to ) maximize the difference between output and input.(b) minimize input.(c) maximize the difference between output and input.(d) minimize input.

Answers

Output Force- the force exerted on an object by a simple machine

Input Force-  the initial force used to get a machine to begin working.

Input Force represents the amount of force that you put into another object. Output Force represents the force that a specific object has as a result of the input force.

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1)maximizing the difference between the input and output.

2)minimize the input.

3)minimize the input.

Explanation:

The available three options are minimizing input, maximize output, and maximize the difference between output and input.

1) The manufacturer of steel rings can sell all the rings at a fixed selling price. At the same time, the per unit cost of production also increases. Thus the manufactures's focus should be in increase the profit by maximizing the difference between the input and output.

This is because, when the firm follow this criterion, it maximizes the difference between the total revenue and total costs.

2)

From the buyer's point of view, the aim is to pay the lowest price for the goods they are purchasing. Thus the buyer's criteria should be to minimize the input.

3)

The book publisher aim is to minimize the sale. He can sale more copies at a low price only if the cost which he has incurred in the publishing of the book is less. Thus the criteria for the book publisher should be to minimize the input.

MINIMIZE INPUT

Explanation: AUCTION this is a process of selling a product,an Art work other tradeable assets like stocks, bonds based on the person with the highest BIDDING( Higher amount). In most cases the person buying will try to control his bidding to the MINIMUM AMOUNT in order for him to avoid spending higher than expected. Auction sale is sometimes used when trying to sell off old products which has been held for a long time, sometimes Auctions are used to raise funds for a particular Reason like the sale of ARTIFACTS.



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