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In an Auction Where the Bidders Values Are $400,$500,$650,$800 and $850,the

Question 37

Multiple Choice

In an auction where the bidders values are $400,$500,$650,$800 and $850,the highest two bidders form a bid-rigging cartel.What would be the winning bid in this auction?


A) ​$501
B) $651
C) $801
D) ​$846

Correct Answer:

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