In which type of auction does the buyer list an initial lower price and then gradually raise the price until one of the suppliers agrees to that price?

Question

Quizplus · Accepted Answer

This type of auction is called a Dutch auction, where the buyer starts with a higher price and gradually reduces it until a supplier agrees to sell at that price. The scenario mentioned in the question is not a Dutch auction, so options A, C, and D can be ruled out.

In Which Type of Auction Does the Buyer List an Initial