Critical Reasoning (CR) | Re: Columnist: On Web sites that conduct online auctions

­Columnist: On Web sites that conduct online auctions, sellers who set low asking prices tend to make more money than do those who set higher prices for similar items. A low asking price encourages more people to make initial bids. More bids make the item look more attractive to other potential buyers, thereby generating even more bids. Many of the early bidders then feel compelled to bid higher than they otherwise would have so that will not lose the item.

The columnist’s claims most strongly support the conclusion that 

A. in online auctions, sellers who set excessively high asking prices usually receive no bids matching those prices
B. The more people who make initial bids on an item, the higher the final bid tends to be
C. Potential buyers tend to base how useful an item would be to them at least in part on the amount the seller sets as the asking price
D. Bidders who feel compelled to bid higher than they otherwise would usually end up paying more for an item than it is worth
E.
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Statistics : Posted by b_sudharsan • on 12 Mar 2024, 12:53 • Replies 3 • Views 737

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