A Private Exchange Occurs When a Specific Firm

A private exchange occurs when a specific firm:

A) provides specifications to a group of sellers, who then bid down the price until the buyer accepts a specific bid.
B) simply buys additional units of products that have previously been purchased.
C) buys a previously purchased product with the same specifications.
D) purchases a product or service for the first time.
E) invites others to participate in online information exchanges and transactions.