Scenario: Four Friends-Tom, Bill, Jeff, and Roger-Are Participating in an English

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 bids up to his value for the good,the winner will earn a surplus of ________.

A) $500
B) $625
C) $125
D) $150