Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 100,000 shares of its stock in an open auction. Suppose the company receives the bids in the following table. What is the maximum price at which the company can sell its stock? Shares ....................Price 20,000 ......................$80 10,000 ........................78 15,000 ........................73 25,000........................ 70 10,000........................ 69

Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 100,000 shares of its stock in an open auction. Suppose the company receives the bids in the following table. What is the maximum price at which the company can sell its stock?
Shares ....................Price
20,000 ......................$80
10,000 ........................78
15,000 ........................73
25,000........................ 70
10,000........................ 69
8,000.......................... 67
14,000........................ 66
15,000 ........................65
30,000 ........................61

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