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The Treasury auctioned $2.5 billion par value 91-day T-bills, the following bids were received: Bidder Bid Amount Bid Price $500 million $0.9940 $750 million $0.9901

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The Treasury auctioned $2.5 billion par value 91-day T-bills, the following bids were received: Bidder Bid Amount Bid Price $500 million $0.9940 $750 million $0.9901 $1.5 billion $0.9925 $1 billion $0.9936 $600 million $0.9939 The Treasury also received $2 billion in noncompetitive bids. Who will receive T-bills, what quantity, and what price? A noncompetitive bidders receive $2 billion and bidder I receives S500 million, and the price is 0.9940 B. noncompetitive bidders receive $1.9 billion and bidder 5 receives S600 million, and the price is 0.9939 C. bidder I receive $500 million and bidder 5 receive $600 million, bidder 4 receives S1 billion, noncompetitive bidders receive $400 million and the price is 0.9936 D. none of the above

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