In which type of auction is there an upward pressure on bid prices as more would-be buyers become involved?
A)reverse auction
B)horizontal auction
C)vertical auction
D)diagonal auction
E)traditional auction

Question

Quizplus · Accepted Answer

In a traditional auction,a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.As more would-be buyers become involved,there is an upward pressure on bid prices.The auction ends when a single bidder remains and "wins" the item with its highest price.

In Which Type of Auction Is There an Upward Pressure