Sealed bid construction contracts are examples of market games that are
A)simultaneous and nonrepeated.
B)simultaneous and repeated.
C)sequential and nonrepeated.
D)sequential and repeated.

Question

Quizplus · Accepted Answer

Sealed bid construction contracts are examples of simultaneous and nonrepeated market games. This is because all the bidders submit their bids simultaneously, without knowing the bids of other bidders, and the game is played only once.

Sealed Bid Construction Contracts Are Examples of Market Games That