Multiple Choice
Anna's Antiques expects to get two bidders for the unique china teacup it sells.Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability.If Anna instead holds an oral auction between the two bidders and one bidder of each type shows up,she earn ___ from the auction.
A) Just above $100
B) $100
C) Just above $70
D) $70
Correct Answer:
Verified
Correct Answer:
Verified
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