The following order book exists for a particular stock. The last trade on the stock was...

The following order book exists for a particular stock. The last trade on the stock was at $60.36.

Buy Orders		Sell Orders
Shares	Price	Shares	Price
250	$60.35	200	$60.38
150	60.34	700	60.39
900	60.33	1,000	60.41
150	60.31	550	60.42
		450	60.43

a. If you place a market buy order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)

b. If you place a market sell order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)

c. Suppose you place a market order to buy 350 shares. At what price will it be filled? Choose the appropriate answer.

200 shares at $60.43 and 150 shares at $60.42
350 shares at $60.43
350 shares at $60.36
200 shares at $60.38 and 150 shares at $60.39

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Expert Solution

jeff jeffy answered 5 months ago

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