Considering the Dutch auctions, the technique in which the auctioneer lower the announced price till bidder accepts price is used in situation of ________?
Correct answer: A. One seller, many buyers
- A. One seller, many buyers
- B. One buyer, many sellers
- C. many sellers, many buyers
- D. None of above
Explanation
In a Dutch auction, the auctioneer starts with a high price and lowers it until a buyer accepts, so the usual structure is one seller and many buyers. A reverse auction has the opposite buyer-seller arrangement.
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