Multiple Choice
Scenario: John, Jacob, Alex, and Maria participate in a first-price auction for an iPod. John values the iPod at $400, Jacob values it at $300, Alex values it at $250, and Maria values it at $200.
-Refer to the scenario above.If each bidder uses his or her dominant strategy,who will win the auction?
A) John
B) Jacob
C) Alex
D) Maria
Correct Answer:
Verified
Correct Answer:
Verified
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