Question
Suppose you are a suppler participating in an open-bid descending auction to BUY. Suppose your cost to produce the part is $10. Suppose the auction
Suppose you are a suppler participating in an open-bid descending auction to BUY. Suppose your cost to produce the part is $10. Suppose the auction utilizes a minimum decrement of $1. Consider two scenarios wherein the current auction price is respectively $10.5 and $9.5. In these scenarios, should you bid lower and claim the winning positon?
a. Yes at $10.5, No at $9.5
b. Yes at $10.5, Yes at $9.5
c. No at $10.5, No at $9.5
d. No at $10.5, Yes at $9.5
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Get StartedRecommended Textbook for
Contemporary Logistics
Authors: Paul R. Murphy, Michael Knemeyer
11th edition
132953463, 2900132953466, 978-0132953467
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