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An IPO can end up at a share price of either 3 or 10. As discussed in the class example, there are two bidders, informed

An IPO can end up at a share price of either 3 or 10. As discussed in the class example, there are two bidders, informed and uninformed. Two shares are offered and the bidders can bid for up to two shares.

What is the highers price that will still entice the uninformed bidders to particpate?

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