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What is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left?

A. B2B marketplace

B. Intranet

C. Reverse auction

D. Internet

Answer: Option C

Solution(By Examveda Team)

Reverse auction is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left.

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