There Are Five Risk-Neutral Bidders, Each Having a Private Value

Multiple Choice

There are five risk-neutral bidders, each having a private value that is independently drawn from the range $60 thousand to $120 thousand with all values in between equally likely. The respective expected revenues (in $ thousands) from the English and sealed-bid auctions are:

A) E(P_E) = $100 and E(P_S) = $110.
B) E(P_E) = E(P_S) = $96.
C) E(P_E) = E(P_S) = $100.
D) E(P_E) = $96 and E(P_S) = $108.
E) E(P_E) = E(P_S) = $110.