A sealed-bid auction is an auction in which bidders enter their bids privately and the winner is that bidder whose bid is

Name: A sealed-bid auction is an auction in which bidders enter their bids privately and the winner is that bidder whose bid is
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Question

Quizplus · Accepted Answer

In a sealed-bid auction, the highest bid wins, so the best choice is A. B and C do not make sense since the purpose of an auction is for bidders to bid on an item, not to bid zero or the lowest bid.

A Sealed-Bid Auction Is an Auction in Which Bidders Enter