Consider the following information for the next two problems.

Four bidders bid for a certain piece of antique. The bidders know their

own valuations for the object but do not know the value of the other

three bidders. Each bidder estimates the value of the other bidders to be

anywhere between $$4,000$ and $$8,000,$ equally likely. Suppose that the

actual valuations are:

V$1=$ $$5,600$ V$2=$ $$5,400$ V$3=$ $$5,000$ V$4=$ $$4,800$

Problem #$21$:

The expected revenue of the seller of the antique in a First Price Sealed

Bid Auction is:

a$.5,400$

b$.5,600$

c$.5,200$

d$.5,500$