The Table Above Lists the Independent Private Values of Five

Multiple Choice

The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their o value and does not know the private values of the other participants.
-Refer to the table above. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, the participants are bidding in a sealed- bid second- price auction and each participant will submit bids using their optimal strategy, except Bidder #5 who submits a bid of $10.25 million. If the rest of the participants submit bids according to their optimal strategy, Bidder_______ wins the auction and pays_______ .

A) $3; $10 million
B) #5; $10 million
C) $3; $10.25 million
D) #5; $10.25 million