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Please provide an explanation for the answer. Thanks! Question 31 pts In an oral auction among 2 bidders who are each equally likely to have

Please provide an explanation for the answer. Thanks!

Question 31 pts In an oral auction among 2 bidders who are each equally likely to have a value of either $20 or $100 or the item, the expected price is $60. $40. $20. O $100

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