Winston's Grocers Would Like to Sell 1,000 Shares of Stock

question 61

Multiple Choice

Winston's Grocers would like to sell 1,000 shares of stock using the Dutch auction method.The bids received are as follows: $$\begin{array} { | c | c | r | } \hline \text { Bidder } & \text { Quantity } & \text { Price } \\\hline \text { A } & 500 & \$ 29 \\\hline \text { B } & 1,100 & 28 \\\hline \text { C } & 1,400 & 27 \\\hline \text { D } & 700 & 26 \\\hline\end{array}$$ Bidder C will receive _____ shares and pay a price per share of _____.

• A)0; $0
• B)600; $38.00
• C)272; $37.00
• D)272; $38.75
• E)700; $38.75

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