There are 11 buyers bidding for one item in a descending-bid auction. Assume that buyer valuations follow a uniform ( 0 , 1 ) uniform(0,1) distribution. Suppose that the valuations of the 11 buyers are: 1 = 0.3607 2 = 0.6740 3 = 0.9306 4 = 0.7099 5 = 0.9964 6 = 0.2359 7 = 0.8896 8 = 0.7095 9 = 0.7026 10 = 0.1291 11 = 0.6110 v 1 =0.3607 v 2 =0.6740 v 3 =0.9306 v 4 =0.7099 v 5 =0.9964 v 6 =0.2359 v 7 =0.8896 v 8 =0.7095 v 9 =0.7026 v 10 =0.1291 v 11 =0.6110 Assume that each buyer bids according to the symmetric equilibrium bidding strategy