Jim would pay $2.51 or £2.51 for the first spot in the auction.
Correct Answer is: $2.51 or £2.51
Jim would pay just $2.51 for the principal spot in the closeout. In a standard second-value sell-off dependent on offers, the promoter doesn’t need to pay their full bid. They just need to pay $0.01 more than the measure of the following most noteworthy bidder.
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