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BIDDER A
A—MMlb
B—MMlb
Waiting
QuantityRound
BIDDER B
A—MMlb
B—MMlb
Waiting
QuantityRound
BIDDER C
A—MMlb
B—MMlb
Waiting
QuantityRound
BIDDER D
A—MMlb
B—MMlb
Waiting
QuantityRound
Product A—
Price100 cpp
Activity— MMlb
Product B—
Price100 cpp
Activity— MMlb
PriceQuantityProduct AProduct BQuantity by bidderABCDRound →Product AProduct B
ROUND1
50 MMlb shared supplyTwo products · one auction
Illustrative SMR sequence. Four bidders submit quantities for two products at their posted prices. The products share a 50 MMlb supply. No bidder switches in this example. cpp means cents per pound; MMlb means millions of pounds. Demand curves show completed rounds. The shared bidder chart shows received bids. Final prices: Product A 121 cpp, Product B 119 cpp. Final quantities: A 30 MMlb, B 20 MMlb.