Multiple Choice
Scenario: Four friends-Tom, Bill, Jeff, and Roger-are participating in an English auction. Tom values the good being auctioned at $500, Bill values it at $210, Jeff values it at $350, and Roger values it at $625.
-Refer to the scenario above.If they are the only bidders in the auction and each bidder uses his optimal strategy,the maximum price the winner is likely to pay is ________.
A) $210
B) $350
C) $500
D) $625
Correct Answer:
Verified
Correct Answer:
Verified
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