Explain how the number of bidders in a common value auction affects the outcome of the auction. Relate this to the effect on price in different market structures based on the number of producers.

Economics

1.Explain how the number of bidders in a common value auction affects the outcome of the auction.

2. Relate this to the effect on price in different market structures based on the number of producers.

3. Adhere to APA Style when writing your essay, including citations and references for sources used.

4. No abstract or introduction needed

5. References all must be peer-reviewed scholarly works