Use the Following Statements to Answer This Question: I

Multiple Choice

Use the following statements to answer this question: I. The expected revenue generated by first-price and second-price sealed-bid auctions is the same.
II) The winner's curse implies that the buyer of an auctioned item will likely be the person who made the largest positive error in their estimated value of the item.

A) I and II are true.
B) I is true and II is false.
C) II is true and I is false.
D) I and II are false.