Multiple Choice
Scenario: An ancient painting is being auctioned off in an English auction. The following table shows the maximum willingness to pay of each bidder.
-Refer to the scenario above.Which of the following is true if David's maximum willingness to pay falls to $380?
A) James will win the auction.
B) Rachel will not take part in the auction.
C) The owner of the painting will earn the same average revenue.
D) David will win the auction.
Correct Answer:
Verified
Correct Answer:
Verified
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