Which of the Following Is a Feature of a Dutch

question 32

Multiple Choice

Which of the following is a feature of a Dutch auction?

• A) The auctioneer begins with a very high asking price.
• B) The winner pays the second-highest bidder's valuation.
• C) Bidders write their valuation in a paper simultaneously and separately.
• D) More than one bidder will announce their valuation.

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Definitions:

Offeree's Counteroffer

A response to an original offer in which the offeree proposes a different agreement, effectively rejecting the initial offer.

Offeror's Revocation

The withdrawal of an offer by the offeror that can occur any time before it is accepted by the offeree, terminating the offer.

Contractual Intent

The clear intention of the parties to a contract to create a legally binding agreement.

Definite

Clearly stated or decided; not vague or doubtful, often referring to terms or conditions that are explicitly specified.