(Don't copy the answer)Assume that > 2 bidders participate in a first-price auction. Their private values are independently drawn from a Uniform distribution on [0,10]. Consider the regret approach to auctions and assume that the seller wants to set a 'reserve price' > 0. A reserve price stands for the minimum price () at which the seller agrees to sell the item. This item has a value of 0 for the seller so s/he does not mind not selling the item, i.e., there is no loss to her/him from not selling it. Determine the bidders' bidding strategy when there is such a reserve price using the regret approach.