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Question
Consider the following limit order book of a specialist. The last trade in the stock occurred at a price of $40. If a market buy order for 100 shares comes in, at what price will it be filled?
| Limit Buy Price | Orders Shares | Limit Sell Orders | Orders Shares | |||||||
| $39.75 | 100 | $40.25 | 100 | |||||||
| $39.50 | 100 | $40.50 | 100 | |||||||
A) $39.75
B) $40.25
C) $40.375
D) $40.25 or less
Answer
This answer is hidden. It contains 193 characters.
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