Sellers sometimes take the auction approach and adapt it by using sequential price reductions over time. When or where is this approach most commonly used?
A) With products that have a short life.
B) When the product supply is unlimited.
C) With heavy equipment manufacturing machinery.
D) With products that have extremely low inventory costs.
E) When competition is absent.

Question

Quizplus · Accepted Answer

Sequential price reductions over time are commonly used with products that have a short life. This approach can help sellers quickly move inventory before the product becomes outdated or irrelevant.

Sellers Sometimes Take the Auction Approach and Adapt It by Using