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A company goes public by using an auction. The bids are contained in the table below. The firm wants to sell 1 2 million shares.
A company goes public by using an auction. The bids are contained in the table below. The firm wants to sell million shares.
tablePrice $tableNumber ofSharesmillions
Assume that the auction is conducted as a dirty auction, and the clearing price is $ Describe which bidders would receive shares, the price they would pay, and how much of their orders would be filled. Enter your answers for the number of receive shares in millions. For example, an answer of million should be entered as not Round the monetary values to the nearest dollar and answers for the number of receive shares to three decimal places. If the investor wouldn't receive shares, enter in both columns.
tableBid Price $The Auction Price,tableNumber of Receive Sharesmillions$$$$$$
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