In a sealed-bid Vickrey auction, the person who bids the:
A. highest gets the object of the bid at the price he or she bid.
B. second highest bidder has the option to receive the good if he or she pays the price of the highest bidder.
C. highest bidder gets the object but pays the price bid by the second highest bidder.
D. second highest bidder gets the good and pays that price.
Answer: C
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