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Now let us go a little further toward finding a general answer. Suppose that the value of the rug to April is $V and she
Now let us go a little further toward finding a general answer. Suppose that the value of the rug to April is $V and she believes that Bart will bid exactly what the rug is worth to him. Write a formula that expresses her expected profit in terms of the variables ????and ????if she bids $????. Calculate the bid $????that will maximize her expected profit.
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