At an Auction for the First Time, Max Bids on an Object

Multiple Choice

At an auction for the first time, Max bids on an object, believing that the auctioneer requested an amount less than the price actually asked. Max is

A) liable on the bid.
B) not liable on the bid because Max misunderstood the auctioneer.
C) not liable on the bid because the auctioneer misstated the price.
D) not liable on the bid because the object is probably overpriced.