In an English auction
A)the price decreases until someone bids.
B)the price increases until nobody else will raise the bid.
C)bidders put their bids in a sealed envelope.
D)the winning bidder pays the amount bid by the person with the second highest bid.

Question

Quizplus · Accepted Answer

In an English auction, the price starts low and increases as people place higher bids. Eventually, only one bidder is willing to continue raising the price until nobody else will raise the bid. This final bidder wins the auction by agreeing to pay the highest price of the bidding process.

In an English Auction