Question: Question 1 (1 point) An auction would be a more desirable method for determining the items selling price for all of the following EXCEPT: Question

Question 1 (1 point)

An auction would be a more desirable method for determining the items selling price for all of the following EXCEPT:

Question 1 options:

A Civil War military order actually signed by General Ulysses S. Grant

Sonys PlayStation 3 video game console

A 1923 Ford Model T automobile, partially restored

Government sales of the oceanfront lots at an abandoned naval base

Question 2 (1 point)

An auction can be used when there are many sellers and only one buyer.

Question 2 options:

True
False

Question 3 (1 point)

English auction is also known as a descending-price auction.

Question 3 options:

True
False

Question 4 (1 point)

Which of the following types of auctions is sometimes called a Vickrey auction?

Question 4 options:

English auction

Dutch auction

First-price sealed-bid auction

Second-price sealed-bid auction

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