An auction in which multiple buyers and their bidding prices are matched with multiple sellers and their asking prices,considering the quantities on both sides best defines

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In a double auction, both buyers and sellers submit their respective bids and asks, and the market matches buyers to sellers at the clearing price. This process allows for a fair and efficient determination of market equilibrium. Forward and reverse auctions involve only one side of the market submitting bids or asks, while penny auctions are a specific type of auction in which bids are small, incremental amounts and the winner is the highest bidder at the conclusion of the auction.

An Auction in Which Multiple Buyers and Their Bidding Prices