The local government is holding an auction for a contract to build a new multi- deck parking lot downtown. If the government has a policy to release its own cost estimates of the work to the auction participants, the participants will have ________ confidence in their own cost estimates and will submit_______ bids.

Question

Quizplus · Accepted Answer

When participants have access to the government's cost estimates, they gain more confidence in their own estimates, leading them to submit lower bids to remain competitive.

The Local Government Is Holding an Auction for a Contract