Solution-If the treasury also received 750 million in

In a Treasury auction of $2.5 billion par value 91-day T-bills, the following bids were submitted: Bidder	Bid Amount	Price
1	$500 million	$0.9940
2	$750 million	$0.9901
3	$1.5 billion	$0.9925
4	$1 billion	$0.9936
5	$600 million	$0.9939

(a) If only these competitive bids are received, who will receive T-bills, what quantity, and at what price?

(b) If the Treasury also received $750 million in noncompetitive bids, who will receive T-bills, what quantity, and at what price?

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If the treasury also received 750 million in noncompetitive : in a treasury auction of 2.5 billion par value 91-day t-bills the following bids were submittedbidderbid amountprice 1

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