Multiple Choice
Which of the following statements is true regarding protocols in various types of auctions?
A) An English auction requires bidders to begin with the highest price.
B) A Dutch auction starts with the lowest price any bidder is willing to pay, which is displayed in a one-handed clock.
C) In a Dutch auction, the first buyer to bid gets the item at the price shown in the one-handed clock.
D) In a second-price auction, the second-highest bidder gets the item.
Correct Answer:
Verified
Correct Answer:
Verified
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