Looking for the correct answer for the following two auction statements:
1. The optimal bidding strategy for an oral auction is: Select one: a. To size up your competition to determine how much to shade your bid. OR b. To bid drop out when the bidding exceeds your true value.
2. To attract more bidders, and more aggressive bidders, to your auction: Select one: a. Hold oral auction. OR b. Withhold relevant information about the value of the object.