1. Winston's Sporting Goods would like to sell an additional 1,500 shares of stock using the Dutch auction method. The bids received are as follows: (Table below should be interpreted as follows: Bidder A is willing to pay $45 for each share, up to 100 shares while bidder B is willing to pay $43 for each share, up to 600 shares)
(Hint: Remember that for Dutch auctions, sell shares first to bidder with willing to pay the highest price and then to bidder with second highest price and so on until all shares are sold. However, every bidder will pay the price of the last bidder to receive any shares. In other words, everyone will pay the lowest price of all successful bidders receiving shares regardless of their own price bids.)
Bidder Quantity Price
A 100 $45
B 600 $43
C 2,000 $42
D 1,500 $41

Bidder C will receive _____ shares.

 a. 0
b. 536
c. 800
d. 1,111
e. 1,500