Bidding models show that as the number of bidders competing _____,the size of the winning bid decreases.

Question

Quizplus · Accepted Answer

As the number of bidders competing increases, the competition for the item or service increases as well, resulting in a decrease in the winning bid size. This is because bidders have to be more competitive to win the bid, which leads to lower prices. Therefore, as the number of bidders increases, the winning bid size decreases.

Bidding Models Show That as the Number of Bidders Competing