​More Bidders Would Tend to Increase the Selling Price at an Oral

question 25

Multiple Choice

​More bidders would tend to increase the selling price at an oral auction if

• A)​bidders bid less aggressively
• B)the true value of the winner is higher
• C)the true values of the losers is higher
• D)​Both A&C

---

Definitions:

Evaluative Role

The function of assessing or judging the value, quality, or importance of something based on established criteria.

Analysis

Identifies the intended and actual inferential relationships among statements, questions, concepts, descriptions, or other forms of representation intended to express belief, judgment, experiences, reasons, information, or opinions.

Justified

Having valid reasons or evidence to support a claim, action, or belief.

Assume

To take something as true or as a given without verification or proof.