Which of the following auctions is characterized by one seller and many buyers?
A)All auctions
B)ascending bid auctions
C)closed auctions
D)sealed-bid auctions
E)reverse auctions

Name: Which of the following auctions is characterized by one seller and many buyers? A)All auctions B)ascending bid auctions C)closed auctions D)sealed-bid auctions E)reverse auctions
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Question

Quizplus · Accepted Answer

Ascending bid auctions are characterized by one seller and many buyers, where buyers bid higher and higher until no higher bid is made.

Which of the Following Auctions Is Characterized by One Seller