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Which of the Following Is True of an English Auction

Question 48

Multiple Choice

Which of the following is true of an English auction?


A) Bids begin low and are increased incrementally until no other bidder is willing to raise the bid.
B) Prices start high and are gradually reduced until a bidder accepts the price and wins the
C) Bidders submit a single bid in writing, without knowing how others have bid, and the highest bid wins.
D) Bidders submit a single bid in writing, without knowing how others have bid, and the

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