5. The Market Place recently offered 5,000 shares of stock for sale via a Dutch auction. The firm received bids as follows: 500 shares at $22.50; 2,500 shares at $22.20; 3,300 shares at $22; and 5,500 shares at $21. Ignoring all costs, how much will the firm receive from this auction

$110,000

Explanation:

No of Shares   Price   Total number of shares

         500        22.50         500

         2500      22.20       3000

         3300      22.00        6800

         5500      21.00        12300

In Dutch auction, share are allotted from highest no. of share to lowest at the price where all the shares are taken. So in this case, highest number of shares are asked by Bidder D which is 5500 shares (available 5000 shares). The bidder will be getting shares at $22 because this is the price when all the shares were taken.

Hence, the amount the firm will receive from this auction = 5,000 *22 = $110,000

you have to put the parentheses like this:

in fact, you have to perform the operation inside parentheses first, and then proceed in order: