Subsidies in the English Auction 2 points Consider an Eng|i5h auction for a single object. Now suppose that Bidder 1 gets 33.33% subsidy (i.e., when Bidder 1 wins and has to pay price p, Bidder 1 pays only gp ). There are two bidders who have independent private values, in and 02 Calculate the seller's expected revenue in this auction with subsidy. - For Bidder 1, his value can be either $6 or $10, each with Instructions: Round your answer to 2 decimal places (for example, 1/3 is probability of 1/2; 0.33, 1/2 is 0.5 and 2/3 is 0.67). - For Bidder 2, her value can be either $16 or $24, each with probability Of1/2; Type your answer... 42 2 points Finally suppose that Bidder 1 gets 100% subsidy (i.e., when Bidder 1 wins and has to pay price p, Bidder 1 pays O ). Calculate the seller's expected revenue in this auction with subsidy. Instructions: Round your answer to 2 decimal places (for example, 1/3 is 0.33, 1/2 is 0.5 and 2/3 is 0.67). Type your