In a traditional auction, the winner
a. is the buyer with the lowest bid.
b. is the buyer with the highest bid.
c. is the supplier with the highest bid.
d. is the supplier with the lowest bid.
Answer: b. is the buyer with the highest bid.
a. is the buyer with the lowest bid.
b. is the buyer with the highest bid.
c. is the supplier with the highest bid.
d. is the supplier with the lowest bid.
Answer: b. is the buyer with the highest bid.