Which of the Following Is True of a Second-Price Auction

question 64

Multiple Choice

Which of the following is true of a second-price auction?

• A) Bidders directly compete with one another.
• B) Bidders submit their bids simultaneously.
• C) Bidders know one another's bid.
• D) Bidders always bid above their willingness to pay.

---

Definitions:

Temporary Storage Space

Space in a computing device used to store data that is needed for short periods, often cleared after its purpose is served.

Primary Circuit Board

The main printed circuit board (PCB) in a computer or electronic device, which houses the CPU, memory, and other critical components.

ALU

Arithmetic Logic Unit, a critical component of a computer's CPU that performs arithmetic and logical operations.

Physical Memory

The actual hardware that stores data on a computer, such as RAM (Random Access Memory) and ROM (Read-Only Memory).