In an Auction When the Highest Bid Has Been Made

question 71

Multiple Choice

In an auction when the highest bid has been made and no higher bids are forthcoming,the highest bid is treated as an acceptance in:

• A)Auctions with reserve,but not in auctions without reserve.
• B)Auctions without reserve,but not in auctions with reserve.
• C)In both of these kinds of auctions.
• D)In neither of these kinds of auctions.

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