You are a bidder in an independent private values auction, and you value the object at $

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You are a bidder in an independent private values auction, and you value the object at $ 4,000. Each bidder perceives that valuations are uniformly distributed between $ 1,500 and $ 9,000. Determine your optimal bidding strategy in a first-price, sealed-bid auction when the total number of bidders (including you) is:

a. 2.

b. 10.

c. 100.


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