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First-Price Sealed-Bid auctions have all bidders simultaneously submit sealed bids so that no bidder knows any of the other bids. The winner faces the Winner's

First-Price Sealed-Bid auctions have all bidders simultaneously submit sealed bids so that no bidder knows any of the other bids. The winner faces the "Winner's Curse" problem if the auctioned item's value is not known with certainty. True or False? Select one: a. False b. True

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