Multiple Choice
Which of the following is a difference between a first-price auction and a Dutch auction?
A) The highest bidder wins in a first-price auction, while the second-highest bidder wins in a Dutch auction.
B) The second-highest bidder wins in a first-price auction, while the highest bidder wins in a Dutch auction.
C) Bids are placed privately in a first-price auction, while bids are placed publicly in a Dutch auction.
D) Bids are placed one after another in a first-price auction, while bids are placed simultaneously in a Dutch auction.
Correct Answer:
Verified
Correct Answer:
Verified
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