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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