In a fixed first-price auction within Display & Video 360, if you have the highest bid at $25 for inventory impressions, you will pay the exact amount of your bid, which is $25.00.

• $24.99
• $25.01
• $15.00
• $25.00

The correct answer is: $25.00

Explanation: A fixed first-price auction is straightforward — the auction winner pays exactly what they bid. If your bid is the highest at $25, there is no second price to consider; your bid amount represents the final sale price for the impressions. This differs from a second-price auction, where the highest bidder would pay one cent more than the second-highest bid. In your case with a first-price auction, the $25 bid is both the highest bid and the final sale price.

Chapter 21: Understand Auction Dynamics