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A French auction, also known as a multiple price auction or discriminatory auction, is a method commonly used in the issuance of government securities, especially in the debt markets. In this auction format, multiple bidders submit bids indicating the amount they wish to purchase and the yield (or price) they are willing to accept. The government then allocates the securities to _____ ________ ______ _________ _____ _______ ______ ___ ____ __________.
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