When Auctions, Such as Those Used on EBay, Are Used

question 118

Multiple Choice

When auctions, such as those used on eBay, are used to sell a product, then:

• A)information about consumers' true reservation prices is minimized.
• B)information about consumers' true reservation prices is revealed.
• C)consumers have an incentive to bid above their true reservation prices.
• D)consumers have an incentive to bid below their true reservation prices.

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Definitions:

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