Question

Frank Enstein is the CEO of a private medical equipment company that is proposing to sell...

Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 124,500 shares of its stock in an open auction. Suppose the company receives the bids in the following table.

Shares Price
23,500 $ 87
13,500 85
18,500 80
28,500 77
13,500 76
11,500 74
17,500 73
18,500 72
33,500 68

What is the maximum price at which the company can sell its stock?

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Answer #1

Maximum price:

124,5000 shares is achieved at 73.

Answer: 73

Formulas:

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