An English Auction Is an Auction Wherein

question 39

Multiple Choice

An English auction is an auction wherein:

• A)the price called out continues to descend until someone is willing to pay that price.
• B)participants cry out their bids and the bids keep rising until no participant is willing to pay a higher price for the object being sold.
• C)bids are sealed and the individual with the highest bid wins.
• D)bids are sealed and everyone with a price higher than the reservation price wins.

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Definitions:

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