Auctions
Question
Question: Auctions: First Price vs. Second Price (10 points)Fill in the blanks in the table
below.
Bidder Value 1st price bid 2nd price bid
A 92
B 95
C 31
D 75
E 88
a) Who wins the first price auction and what price do they pay?
b) Who wins the second price auction and what price do they pay?
Please answer this question
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