Question 2 Consider eBay setup we consider in class where the starting bid (minimal price set by seller) is $200 and bid increments is $1. The object is put for sale at 9:50 am and auction is over at 11:00am. Suppose the following bids are made at the corresponding times (and there is no bid after 10:50 am).

(a) (15 pts) What are the current bids and minimal bids at 9:51am, 10:01am, 10:11am, 10:21 am, 10:31 am, 10:41 am and 10:51am?

(b) (5 pts) Who wins the item and pays how much?

Bidder Bid Date Alice $250 10:00am Bob $220 10:10am Chris $300 10:20am Bob $301 10:30am Alice $350 10:40 am Bob $340 10:50am