3. A piece of art is being auctioned. Bidders each have a private valuation drawn independently from a uniform distribution with range $0 to $1million. a) The auctioneer runs a second-price sealed auction. What is each bidder's optimal strategy? How does it depend on the number of bidders? b) If the auctioneer runs a first price sealed bid auction instead, what is each bidder's optimal strategy if there are 2 bidders? If there are n bidders? c) What is the expected revenue if there are 2 bidders? If there are n bidders