In which type of auction does the price increase as the number of buyers increases?
A)reverse auction
B)horizontal auction
C)vertical auction
D)diagonal auction
E)traditional auction

Question

Quizplus · Accepted Answer

In a traditional auction, the price increases as the number of buyers increases since buyers bid against each other to win the item. In a reverse auction (A), the price decreases as sellers bid against each other to win the business. In a horizontal auction (B), buyers come together to purchase the same type of goods or services from a single seller. In a vertical auction (C), a buyer looks to purchase goods or services from a group of sellers. There is no such thing as a diagonal auction (D).

In Which Type of Auction Does the Price Increase as the Number