Use the following information to answer the Questions:
In a Vickrey auction, the three highest bids (by bidders A, B, and C) are $100, $101, and $500.
-What does the winner pay?
A) $100
B) $101
C) $500

Name: Use the following information to answer the Questions: In a Vickrey auction, the three highest bids (by bidders A, B, and C) are $100, $101, and $500. -What does the winner pay? A) $100 B) $101 C) $500
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Question

Quizplus · Accepted Answer

In a Vickrey auction, the winner pays the second-highest bid, which in this case is $101.

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