How is a Dutch auction conducted?
A) Starts with a low price. Participants bid up the price until only one is left.
B) Starts with a high price. Price is reduced until one participant accepts it.
C) Participants submit their prices in envelopes. Highest bidder wins.
D) There is no such thing as a Dutch Auction.

Question

Quizplus · Accepted Answer

In a Dutch auction, the auction starts with a high price which is gradually lowered until a participant is willing to accept the current price, at which point the auction ends and the item is sold to that participant.

How Is a Dutch Auction Conducted