When Auctions, Such as Those Used on EBay, Are Used

Multiple Choice

When auctions, such as those used on eBay, are used to sell a product, then:

A) information about consumers' true reservation prices is minimized.
B) information about consumers' true reservation prices is revealed.
C) consumers have an incentive to bid above their true reservation prices.
D) consumers have an incentive to bid below their true reservation prices.