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Newton Water Works Would Like to Sell 800 Shares of Stock

Question 53

Multiple Choice

Newton Water Works would like to sell 800 shares of stock using a Dutch auction.The bids received are as follows: Bidder A: 100 shares at $26;Bidder B: 300 shares at $25;Bidder C: 200 shares at $25;Bidder D: 300 shares at $24;and Bidder E: 800 shares at $20.Bidder C will be able to purchase _____ shares at a price per share of ____.


A) 800;$20
B) 24;$26
C) 24;$25
D) 178;$25
E) 178;$24

Correct Answer:

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