In a Second-Price Auction, the Winner Pays

question 67

Multiple Choice

In a second-price auction, the winner pays

• A)the second-to-last bid it made.
• B)the average of the top two bids.
• C)the amount bid by the runner-up.
• D)None of the above.

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Definitions:

Suicide

The deliberate act of taking one's own life.

Succeed

Achieving a desired goal, outcome, or status after effort, skill, or courage has been applied.

Attempt

An effort to achieve or complete a difficult task or action.

Polygraph Test

A lie detection examination that measures physiological responses, such as blood pressure, pulse, and perspiration, to determine truthfulness.