1. Consider an independent private values sealed-bid second-price auction with n players. We saw in class that such an auction has a Nash equilibrium in which every player's bid is equal to her valuation. (a) Does it also have a Nash equilibrium in which one of the players, say player 2', bids 1') (the highest possible valuation) regardless of her valuation and all other players bid y (the lowest possible valuation) regardless of their valuations? (b) Is the outcome of the strategy prole described in part a eicient