What type of online auction occurs when sellers and buyers solicit consecutive bids from each other and prices are determined dynamically?

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An electronic auction is a type of online auction where the bidding process takes place electronically, typically over the internet. In an electronic auction, sellers and buyers can solicit consecutive bids from each other and prices are determined dynamically, making it easier to find the best price for an item. This is different from a forward auction, where sellers offer items for sale and buyers bid on them, and a reverse auction, where buyers specify the price they are willing to pay and sellers compete to offer the lowest price.

What Type of Online Auction Occurs When Sellers and Buyers