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in an english auction group of answer choices bidders take turns offering higher amounts until a single bidder remains the highest valued bidder will win, and pays an amount just under the second highest value both of the above none of the above

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PNaik

The  auction means  the highest valued bidder will win, and pays an amount just under the second highest value.

What are Advantages and Disadvantages of Auctions?

Advantages and Disadvantages of Auctions are

  • Auctions have both advantages and disadvantages. Sometimes people  find rare items at auctions. And there is always a chance that a buyer can purchase an item at auction at a discount.
  • When property is purchased at auction, the  process can turn off some potential buyers because of its competition.
  • When it comes to selling a commercial asset or an entire business, the seller has many advantages  because he controls the entire auction process. They can create a competitive environment  to maximize their bargaining power and ultimately achieve a higher price.
  • On the other hand, the cost of holding an auction  can be significant. The seller must have a strategy for the auction process, which requires the services of both financial and legal advisors.

To learn more about Auctions, refer;

https://brainly.com/question/17288557

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