The World Times, a publisher, has set their inventory’s price floor to $1.00. Advertiser A bids $0.89, Advertiser B bids $1.04, and Advertiser C bids $1.11. What is the outcome in a first-price auction?

 

The World Times, a publisher, has set their inventory’s price floor to $1.00. Advertiser A bids $0.89, Advertiser B bids $1.04, and Advertiser C bids $1.11. What is the outcome in a first-price auction?

 

• Advertiser B wins and pays $1.11
• Advertiser A wins and pays $1.04
• Advertiser C wins and pays $1.05
• Advertiser C wins and pays $1.11