Business, 05.03.2020 14:15 lechinastarks317

Anna’s Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. What is the expected revenue from setting the price at $100? a. $70 b. $80 c. $75 d. $100

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Anna’s Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders...