Suppose There Is the Following Oral Auction with Two Bidders

question 146

Multiple Choice

Suppose there is the following oral auction with two bidders.What is the expected revenue of the auction? $$\begin{array} { l l l } \text { Bidder 1 } & \text { Bidder } 2 & \text { Prabability } \\\hline 10 & \$ 10 & .25 \\\$ 10 & \$ 15 & .25 \\\$ 15 & \$ 10 & .25 \\\hline 15 & \$ 15 & .25\end{array}$$

• A)$11.25
• B)$12.50
• C)$13.75
• D)$15

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