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Suppose you place your 1975 AMC Gremlin automobile for sale on eBay. People can submit bids until midnight on Friday. All bids are posted on

Suppose you place your 1975 AMC Gremlin automobile for sale on eBay. People can submit bids until midnight on Friday. All bids are posted on the eBay web site so bidders can track the bidding, a kind of electronic "open-outcry". The highest bid wins and pays that bid. What type of bidding is this? a. Sealed bid b. Open Outcry (Ascending Price or English) c. Open outcry (Descending price or Dutch)What type of pricing is being used in question 1? a. First Price b. Second Price c. All pay

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