CHAPTER 18 - CHAPTER 18 1 An oral auction a is also called...

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CHAPTER 181) An oral auctiona)is also called an English auctionb)is where bidders submit increasing bids until all but one remainsc)is where the sole remaining bidder wins and pays his winning bidd)all of the aboveANS: D
2)A second-price auction
3) An oral auction
4)A second-price auction
B
5)An oral auctiona)is also called a Vickrey auctionb)is conducted by bidders submitting a single sealed bidc)is where the sole remaining bidder wins and pays his winning bidd)all of the aboveANS: C
6)A second-price auction
7)The optimal bidding strategy for an oral auction is

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