Revenue Equivalence Theorem

Q2 Revenue Equivalence Theorem II 4 Points For the following two auctions, briefly explain why the revenue equivalence theorem cannot be used to compute the symmetric equilibrium bidding strategies. Q2.1 2 Points A first-price sealed bid auction with a flat fee: Each bidder pays a fixed amount f and places a bid b. The seller keeps the fees paid by each buyer and the buyer with the highest bid pays her own bid and gets the item