​A second-price auction

A) ​is also called an English auction
B) is where the highest bidder wins and pays the amount of the next highest bid
C) is where the sole remaining bidder wins and pays his winning bid
D) ​all of the above

Second-Price Auction

An auction format in which the highest bidder wins but pays the second-highest bid price, encouraging bidders to bid their true value.

English Auction

A type of auction where the price starts low and is bid up by participants until no higher bids are made, and the highest bidder wins.

Highest Bidder

Refers to the participant in an auction who offers the largest amount of money for an item or service.