Assume that when Mr. White and Ms. Plain entered their buy order for GHT, the price of

Question:

● Assume that when Mr. White and Ms. Plain entered their buy order for GHT, the price of the stock increased to $25.45. This is the price at which the trade was executed. Given this impact, the effective spread was _____ that in Question 2 above.

a. Lower than

b. Higher than

c. The same as

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