Which of these statements best describes a competitive auction? Select a Choice Below current question choices OptionA A competitive auction is a non-market mechanism used by the government to select the winner of import rights. OptionB In a competitive auction, a government can capture the excess revenue to importers, as importers are willing to bid up the cost of import rights until their total cost equals their total revenue. OptionC In a competitive auction, a government can capture the excess revenue to importers, as importers are willing to bid up the cost of import rights until their marginal cost equals their marginal revenue. OptionD A competitive auction is used by the government to distribute the excess revenue earned by licensed importers among other producers