Jim has created a Google Search ad with a bid of $5. Two other advertisers in an auction have bids of $2.50 and $2. How much would Jim pay for the first spot in the auction?
Below is the answer and explanation for Jim has created a Google search ad with a bid of $5. Two other advertisers in an auction have bids of $2.50 and $2. How much would Jim pay for the first spot in the auction?
Jim has created a Google search ad with a bid of $5. Two other advertisers in an auction have bids of $2.50 and $2. How much would Jim pay for the first spot in the auction?
- $5.
- $4.50.
- $2.50.
- $2.51. âś…
Correct answer
$2.51. âś…
Explanation
Jim would pay only $2.51 for the first spot in the auction. In a standard second-price auction based only on bids, the advertiser doesn’t have to pay their full bid. They only have to pay $0.01 more than the amount of the next highest bidder.
Given above is the answer and explanation for the question Jim has created a Google search ad with a bid of $5. Two other advertisers in an auction have bids of $2.50 and $2. How much would Jim pay for the first spot in the auction?
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