In Which Type of Auction Does the Buyer List an Initial

question 38

Multiple Choice

In which type of auction does the buyer list an initial price,in which only a lower bid can be submitted by the suppliers and the current lowest bid is visible to all suppliers as the auction progresses?

• A)English auction
• B)Dutch auction
• C)sealed-bid first-price auction
• D)second-price auction

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Definitions:

Fixed Expenses

Fixed expenses are costs that do not fluctuate with changes in production level or sales volume, including lease payments and insurance.

Volume

The number of units of a product or service sold or produced.

CM Ratio

The CM Ratio, or Contribution Margin Ratio, is a financial metric that shows the proportion of sales revenue that exceeds variable costs, indicating the amount available to cover fixed costs and generate profit.

Fixed Expenses

Costs that remain constant for a set period and do not vary with changes in activity level, production volume, or sales, such as lease payments and utility bills. This is a rephrased definition of Fixed Costs.