Multiple Choice
Scenario: Consider the following situation. Molly is one among the sixty-one bidders who take part in a first-price auction for vintage furniture. Molly places a value of $850, the highest value, for a vintage dressing table that comes up for auction. Joseph has the second-highest willingness to pay of $750.
-Refer to the scenario above.Which of the following is an optimal bid for Molly?
A) $836
B) $750
C) $825.50
D) $700
Correct Answer:
Verified
Correct Answer:
Verified
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