The bidding technique in which only one bid is submitted by sellers is classified as ________?
Correct answer: D. sealed-bid auctions
- A. equalizing-bid auctions
- B. descending bids auction
- C. ascending bids auctions
- D. sealed-bid auctions
Explanation
A sealed-bid auction allows each seller to submit one confidential bid, so bidders do not successively revise offers. Ascending and descending auctions involve prices changing openly during the bidding process.
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