More bidders would tend to increase the selling price at an oral auction if
A)bidders bid less aggressively
B)the true value of the winner is higher
C)the true values of the losers is higher
D)Both A&C

Question

​More bidders would tend to increase the selling price at an oral auction if
A)​bidders bid less aggressively
B)the true value of the winner is higher
C)the true values of the losers is higher
D)​Both A&C

Quizplus · Accepted Answer

More bidders increase competition, and if the true values of the losers are higher, they will bid more, driving up the selling price.

​More Bidders Would Tend to Increase the Selling Price at an Oral

More Bidders Would Tend to Increase the Selling Price at an Oral