The world\'s largest tulip and flower market Every day over 19 million tulips an

Question

The world's largest tulip and flower market Every day over 19 million tulips and flowers are auctioned at the Dutch market called "The Bloemenveiling" These Dutch auctions match buyers and sellers Source: Tulip-Bulbs.com In a Dutch auction, the auctioneer announces the highest price If no one offers to buy the flowers, the auctioneer lowers the price until a buyer is found What method is used to allocate flowers at the Bloemenveiling? The flowers at the Bloemenveiling are allocated by O A. majority rule OB, contest O C. command O D. first-come, first-served OE. market price

Explanation / Answer

1. Option E. Market Price.

Explanation: In the market price method of allocation, the price is determined by the market forces of demand and supply. Price is determined at the point at which the demand equals supply.

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