Alex bid $24 a share for 500 shares in a Dutch auction for ABC shares of stock.The other bids were $25 for 200 shares,$23 for 600 shares,$26 for 100 shares,and $22 for 500 shares.ABC was seeking the sale of 1,000 shares.What price did Alex have to pay for each share he obtained?

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In a Dutch auction, the highest price at which all the shares can be sold is the price paid by all successful bidders. Here, the bids are filled starting from the highest: $26 for 100 shares, $25 for 200 shares, and $24 for 500 shares. This totals 800 shares. To reach 1,000 shares, 200 more shares are needed, which are taken from the $23 bid. Thus, the clearing price is $23.

Alex Bid $24 a Share for 500 Shares in a Dutch