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    Question

    What is a reverse

    auction?
    A An auction where buyers bid for the prices of goods and services Correct Answer Incorrect Answer
    B An auction where sellers bid for the prices of goods and services Correct Answer Incorrect Answer
    C An auction where sellers put up items and buyers place bids Correct Answer Incorrect Answer
    D An auction where the item goes to the lowest bidder Correct Answer Incorrect Answer

    Solution

    In a reverse auction, sellers compete by submitting their bids for the prices at which they are willing to sell their goods and services.

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