Scenario: Tom, Pat, Arthur, and Julie Are Participating in a Second-Price

question 103

Multiple Choice

Scenario: Tom, Pat, Arthur, and Julie are participating in a second-price auction for a good. Tom values the good at $150, Pat values it at $180, Arthur values it at $250, and Julie values it at $200.
-Refer to the scenario above.Arthur should place a bid of ________.

• A) $187.50
• B) $200
• C) $225
• D) $250

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