Bidder A B с D E F G LL Number of Shares 3,000 2,000 5,000 6,000 9,000 4,000 8,000 Price (USD) 80 73 90 85 70 84 86

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 10MCQ
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The bids and bidders in a Dutch auction to sell 20,000 shares are as follows:

At what price are the shares sold? How many shares does each bidder get?

Bidder
A
B
с
D
E
FL
G
Number of Shares
3,000
2,000
5,000
6,000
9,000
4,000
8,000
Price (USD)
80
73
90
85
70
84
86
Transcribed Image Text:Bidder A B с D E FL G Number of Shares 3,000 2,000 5,000 6,000 9,000 4,000 8,000 Price (USD) 80 73 90 85 70 84 86
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