What is a reserve price auction?

(a) The seller sets the lowest acceptable amount he will accept for the item and the buyers bid on it.
(b) The seller sets an amount for the lowest possible bid on the item, and the buyers bid on it.
(c) The buyer sets a price as sellers compete to match or even beat it.
(d) The seller sells the item to the auction service, which then auctions the item off.

Ans: (a)