Multiple Choice
In a standard sealed-bid auction, the person who bids the:
A) highest gets the object of the bid.
B) second highest gets the good and pays that price.
C) second highest has the option to receive the good if she pays the price of the highest bidder.
D) highest gets the object but pays the price bid by the second highest bidder.
Correct Answer:
Verified
Correct Answer:
Verified
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