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8. In a Treasury auction of $2.1 billion par value 91-day T-bills, the following bids were submitted:Bidder A bid for $500 mil at price.9940; Bidder

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8. In a Treasury auction of $2.1 billion par value 91-day T-bills, the following bids were submitted:Bidder A bid for $500 mil at price.9940; Bidder B bid for $750 mil at .9925; Bidder C bid for $800 mil at .9936; and last Bidder D bid for $600 mil at .9938. Using numbers from question 8. But assume there is $250 mil non-competitive bids submitted lect one: a. C will receive no T-bills b. B will receive $750 mil T-bills c. Non-competitive bidders will pay .9936 d. There is not enough share for everyone, so, noncompetitive bidders who is not willing to pay higher price will receive nothing. e. A and B of the above

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