Give an example of an auction (Le, a set of bidders, true values, and bids} with 5 bidders that satisfies each property. Explain why your auction satises the desired property. Note: Each property is independent {soyou need a different example for each part, and the example in, soy, part c only needs to satis/ property c and not also the other properties]. a. The winner in a rst-price sealed-bid auction has a payoff of 10. b. The winner in a second-price sealed-bid auction has a payoff of 10. c. All bidders have the same payoff from a first-price sealed-bid auction as from second-price sealed-bid auction. d. The average payoffin a sealed-bid all-price auction [i.e., whoever bids the highest wins the item, but everyone has to pay their bid) is 5. e. Two of the losers in a rst-price sealedbid auction could have improved their payoff if they had known the other players' bids upfront, but the other two could not have done so