Considering the Dutch auctions, the technique in which the potential auctioneer offers the lowest to compete, is used in situation of __________?
Correct answer: B. One buyer, many sellers
- A. One seller, many buyers
- B. One buyer, many sellers
- C. many sellers, many buyers
- D. one buyer, one seller
Explanation
A Dutch-style reverse auction with sellers competing by offering the lowest price involves one buyer and many sellers. This is the usual purchasing or procurement situation for a reverse auction.
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