Work in teams s 4 for 40 minutes. No books or electronics. Enter your final answers on Quercus (5 minutes). 1. You are participating in a Sealed Bid First-Price Auction with n = 8 bidders. Your valuation for the property being auctioned is 48 dollars. You assume the other bidder's valuations follow a Uniform Distribution V, -U (0, 100). Calculate your optimal bid. 30 n=8 VEU[0,100] [0,100], [ 100,0], [000,0], 6100,100] = vee V