In class, we discussed a first price sealed bid auction with two bidders. Each bidder’s valuation v was a random draw from the interval [0, 1] according to the uniform cumulative distribution function F(v) = v for 0 £ v £ 1. Now suppose there are n ≥ 2 bidders. Show that in a Bayes-Nash equilibrium each players will bid (n – 1) /n times his or her valuation.