Examlex
The most serious effects of maternal alcohol consumption on the infant are seen when the mother drinks heavily in the
Winning Bid
The highest offer made in an auction that is accepted by the seller, resulting in a sale.
Oral Auction
A public sale where goods or services are sold to the highest bidder through verbal bids.
Second-Price Auction
See Vickrey auction.
Vickrey Auction
A sealed-bid auction where the winner pays the second-highest bid instead of their own, encouraging true value bidding.
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