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Author Question: Appendix: In Dutch auctions, the bidding a. starts low and rises until the highest bidder wins. b. ... (Read 105 times)

TVarnum

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on: Jul 1, 2018
Appendix: In Dutch auctions, the bidding
 a. starts low and rises until the highest bidder wins.
  b. is done in secret sealed bids which are opened at a specified time.
  c. begins with a very high price, and is reduced until the first person takes it.
  d. is accomplished by giving the price of the second highest bid to the highest bidder.

Question 2

If the bidders at an oral auction have true values of 78, 72, 66, and 65, the item will sell for
 a. 78
  b. just under 78
  c. 72
  d. just over 72


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nikmaaacs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


TVarnum

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

xiazhe

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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