Reverse auctions are a type of ________ auctions.

Name: Reverse auctions are a type of ________ auctions.
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Question

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Reverse auctions involve one buyer (the purchaser) and many potential sellers (suppliers), where the buyer seeks to acquire a product or service at the lowest possible price. The suppliers compete with one another by submitting increasingly lower bids in real-time bidding rounds, and the supplier with the lowest bid at the end of the auction wins the contract. Therefore, C is the best choice.

Reverse Auctions Are a Type of ________ Auctions