An auction in which the auctioneer starts at a high price and then lowers the price in
Question:
An auction in which the auctioneer starts at a high price and then lowers the price in increments until there is a willing buyer is best called a:
A. Dutch auction.
B. Vickery auction.
C. private-value auction.
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Answer B Vickery auction In a Vickery auction the auctioneer starts at a high price and then gradual...View the full answer
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Related Book For 
Economics For Investment Decision Makers
ISBN: 9781118111963
1st Edition
Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto
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