Which of the Following Is True of an English Auction

question 43

Multiple Choice

Which of the following is true of an English auction?

• A) Bids begin low and are increased incrementally until no other bidder is willing to raise the bid.
• B) Prices start high and are gradually reduced until a bidder accepts the price and wins the
• C) Bidders submit a single bid in writing, without knowing how others have bid, and the highest bid wins.
• D) Bidders submit a single bid in writing, without knowing how others have bid, and the

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The quality of being easily understood, clear in expression, intention, or meaning.

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