Business, 16.12.2019 21:31 christylivingsowzxa2

You are playing a game in which a dollar bill is auctioned. the highest bidder receives the dollar in return for the amount bid. however, the second-highest bidder must pay the amount that he or she bids, and gets nothing in return. the optimal strategy is a. to bid nothing. b. to bid more than a dollar. c. to bid the smallest allowable increment below $1. d. to bid $0.99.

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You are playing a game in which a dollar bill is auctioned. the highest bidder receives the dollar i...

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