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.Pat should submit a bid of ________.
A) $200
B) $180
C) $45
D) $135
Correct Answer:
Verified
Correct Answer:
Verified
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