Answer:
Reverse Auction
Explanation:
Reverse Auction -
It is a type of auction process , where the positions of the buyer and the sellers are interchanged , is known as reverse auction .
In this case , it comprise of many sellers with one buyer .
Hence , in this case , the sellers compete to get the business from the buyer and therefore the price reduces as the sellers underbid each other .
From the question , the information is given about reverse auction .
