Question

Which of the following is a way in which secret bidding tends to produce fairer bids?
A. If the process were open, a firm that could make a profit at a price considerably less than the competition might bid up the price to put pressure on that competitor.
B. If the competition were open, a firm might start out at a high bid to scare others off from bidding.
C. If the process were open, a firm that could make a profit at a price considerably less than the competition would make a bid only just enough less to win the contract.
D. If the competition were open, firms might get into a bidding war for the contract.

Answer

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