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  • Sale of Goods Act Test - 4
  • Reserve price is the ______ price in case of auction sale.
Multiple choice

Reserve price is the ______ price in case of auction sale.

  1. maximum

  2. minimum

  3. average

  4. variable

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option (2) is correct: A reserve price is a hidden minimum price that the seller is willing to accept for an item.

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