The winner of a sealed- bid first- price auction is the participant who bid the and pays the amount of the ________ .

Name: The winner of a sealed- bid first- price auction is the participant who bid the and pays the amount of the ________ .
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Question

Quizplus · Accepted Answer

In a sealed-bid first-price auction, the winner is the participant who bid the highest and pays that amount. The second-highest bid is not relevant in determining the winner or the price paid. Therefore, the correct answer is D, the highest bid.

The Winner of a Sealed- Bid First- Price Auction Is