Your firm is planning to hold an auction to sell its oil field.What type of auction should you suggest to your boss?

Name: Your firm is planning to hold an auction to sell its oil field.What type of auction should you suggest to your boss?
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Question

Quizplus · Accepted Answer

An English auction is most suitable for selling unique items like an oil field, where bidders openly bid against one another, and the price increases until no higher bids are made. This format can help ensure the highest possible price is achieved for the oil field.

Your Firm Is Planning to Hold an Auction to Sell