A key difference between a Walrasian market and most auction markets is that in most auction markets
A) transactions occur continuously.
B) bid prices exceed offer prices.
C) only dealers have complete information.
D) offer prices exceed bid prices.

Question

Quizplus · Accepted Answer

In a Walrasian market, transactions occur simultaneously after all bids are collected and the market-clearing price is determined, unlike most auction markets where transactions can occur continuously as bids and offers are made.

A Key Difference Between a Walrasian Market and Most Auction