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Sam has three identical vintage Chinese teapots that he is trying to sell on Ebay. He intends to run a fourth-price auction to sell these teapots. There are 6 bidders, A B. C, D, E. and F who submit the bids 100, 250, 200, 125, 111, and 215 respectively. Which bidders win the teapots and how much do they pay? O B, C, and F win; they pay 100 each. O B, C, and F win, B pays 250, F pays 215 and C pays 200. O B, C, and F win, they pay 125 each. O B, C, and F win; B pays 215, F pays 200, and C pays 125.

Sam has three identical vintage Chinese teapots that he is trying to sell on Ebay. He intends to run a fourth-price auction to sell these teapots. There are 6 bidders, A B. C, D, E. and F who submit the bids 100, 250, 200, 125, 111, and 215 respectively. Which bidders win the teapots and how much do they pay? O B, C, and F win; they pay 100 each. O B, C, and F win, B pays 250, F pays 215 and C pays 200. O B, C, and F win, they pay 125 each. O B, C, and F win; B pays 215, F pays 200, and C pays 125.

Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
ChapterP: Preliminary Concepts
SectionP.CT: Test
Problem 1CT
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QUESTION 4 Sam has three identical vintage Chinese teapots that he is trying to sell on Ebay. He intends to run a fourth-price auction to sell these teapots. There are 6 bidders, A B, C, D, E, and F who submit the bids 100, 250, 200, 125, 111, and 215 respectively. Which bidders win the teapots and how much do they pay? O B, C, and F win; they pay 100 each. O B, C, and F win; B pays 250, F pays 215 and C pays 200. O B, C, and F win, they pay 125 each. O B, C, and F win; B pays 215, F pays 200, and C pays 125.
Transcribed Image Text:QUESTION 4 Sam has three identical vintage Chinese teapots that he is trying to sell on Ebay. He intends to run a fourth-price auction to sell these teapots. There are 6 bidders, A B, C, D, E, and F who submit the bids 100, 250, 200, 125, 111, and 215 respectively. Which bidders win the teapots and how much do they pay? O B, C, and F win; they pay 100 each. O B, C, and F win; B pays 250, F pays 215 and C pays 200. O B, C, and F win, they pay 125 each. O B, C, and F win; B pays 215, F pays 200, and C pays 125.
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