Question: Find the optimal bidding function in a first-price auction with n bidders, if the distribution of bidders values is F(v) = v^2 , and v

Find the optimal bidding function in a first-price auction with n bidders, if the distribution of bidders values is F(v) = v^2 , and v is distributed in the interval [0, 1].

What happens to the optimal bidding function as n grows large? Intuitively interpret this result (i.e., explain why this should be so).

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