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AndrewKraus AndrewKraus
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7 years ago
Which of the following is true of a second-price sealed-bid auction?
A) Bidders directly compete with each other.
B) Bidders submit their bids simultaneously.
C) Bidders know each other's bid.
D) Bidders always bid above their willingness to pay.
Textbook 
Microeconomics

Microeconomics


Edition: 1st
Authors:
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losteinlostein
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7 years ago
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AndrewKraus Author
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#2
6 years ago
Excellent answer, thx
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