A Reserve Price Serves Two Related Purposes

question 5

Multiple Choice

A reserve price serves two related purposes. One is to elevate the expected final bid price. The other purpose is to:

• A) increase the seller's personal value for the item.
• B) protect the seller from auctioning the good for too low a price.
• C) ensure that the highest bid is the same for any type of auction.
• D) attract a greater number of buyer to the auction.
• E) increase the typical buyer's personal value for the item..

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Definitions:

Unconscious Conflicts

Deep-seated internal conflicts often stemming from childhood that influence behaviors and thoughts, unseen by the conscious mind.

Hostility

An antagonistic attitude or action; an unfriendly or warlike disposition.

Transference

The redirection of feelings and desires, especially those unconsciously retained from childhood, toward a new object, often a therapist during psychoanalysis.

Unconscious Mind

A portion of the mind that remains hidden from conscious awareness, yet plays a role in shaping behavior and emotional responses.