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Zelker2000 Zelker2000
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3 years ago
In a first-price sealed-bid auction, the winner pays

▸ its own, highest bid.

▸ the amount bid by the runner-up.

▸ the average of the three highest bids.

▸ the common value.
Textbook 
Managerial Economics and Strategy

Managerial Economics and Strategy


Edition: 3rd
Authors:
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Answer verified by a subject expert
aiamaaiama
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3 years ago
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