To be profitable selling goods or services at auction,a firm must work to hold its costs up,relative to its competitors,and must have an accurate understanding of what those costs are.

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To be profitable selling goods or services at auction, a firm must work to hold its costs down, not up, relative to its competitors. This will allow them to offer competitive prices, while still earning a profit. Additionally, while having an accurate understanding of costs is important, it is not sufficient for profitability. The firm must also price their offerings appropriately and generate enough demand to make sales.

To Be Profitable Selling Goods or Services at Auction,a Firm