The type of auction which have many buyers and only one seller and the bidder raises the price of an offer is classified as _________?
Correct answer: A. English auctions
- A. English auctions
- B. Dutch auctions
- C. equalizing-bid auctions
- D. Australian auctionsFind Prototyping Services
Explanation
An English auction has one seller and many buyers, with bidders openly raising the offered price until no higher bid is made. A Dutch auction instead begins with a high price that is progressively lowered.
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