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In an Auction Where the Bidders Values Are $740,$700,$660,$650,$400,$325 and $300,the

Question 48

Multiple Choice

In an auction where the bidders values are $740,$700,$660,$650,$400,$325 and $300,the highest three bidders decide to form a bid-rigging cartel.What would the winning bid be in this auction?


A) ​$741
B) $701
C) $651
D) ​$631

Correct Answer:

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