In an auction ________, the seller is treated as making an offer to accept the highest bid.
A) Without controls
B) With controls
C) Without reserve
D) With reserve
E) Without qualifications

Question

Quizplus · Accepted Answer

In an auction without reserve, the seller is essentially making an offer to accept the highest bid, meaning there is no minimum bid threshold that must be met for the sale to proceed. This contrasts with a reserve auction, where a minimum price must be met for the sale to be valid.

In an Auction ________, the Seller Is Treated as Making