The World Times, a publisher, has set their inventory's price floor to $1.05. Advertiser A bids $0.93, Advertiser B bids $1.14, and Advertiser C bids $1.19. What is the most likely outcome in a second-price auction?

In a second-price auction, the highest bidder wins but pays the price of the second-highest bidder. Here, the publisher has a price floor of $1.05. Advertiser A's bid of $0.93 is below the floor, so it's not considered. Advertiser B bids $1.14 and Advertiser C bids $1.19. Advertiser C is the highest bidder at $1.19. The second-highest valid bid is Advertiser B's $1.14. Therefore, Advertiser C wins and pays $1.14. However, since the price floor is $1.05, and the second-highest bid is $1.14, the winning bid is $1.19 and the price paid is $1.14. The option "Advertiser C wins and pays $1.15" is the closest given the options, implying a rounding or a slight discrepancy in the provided options, but the core principle is that the winner pays the second-highest bid.