A formal auction in which participants pay a nonrefundable small fee for each bid, and the bid level changes by small increments. This defines
A) penny auction.
B) reverse auction.
C) forward auction.
D) charge-by-bid auction.
Answer: A
A formal auction in which participants pay a nonrefundable small fee for each bid, and the bid level changes by small increments. This defines
A) penny auction.
B) reverse auction.
C) forward auction.
D) charge-by-bid auction.