Scenario: Tom, Pat, Arthur, and Julie Are Participating in a Second-Price

Multiple Choice

Scenario: Tom, Pat, Arthur, and Julie are participating in a second-price auction for a good. Tom values the good at $150, Pat values it at $180, Arthur values it at $250, and Julie values it at $200.
-Refer to the scenario above.If each bidder uses his or her dominant strategy,who will get the good being auctioned?

A) Tom
B) Pat
C) Arthur
D) Julie