1. When Jill sells her 100 shares of Merck common stock at the same time that John purchases 100 shares of Merck stock, which of the following is true:

		A. this occurs in the primary market; Merck receives the dollar value of the transaction, less brokerage fees.
		B. this occurs in the secondary market; Merck receives nothing.
		C. this occurs in the secondary market; Merck receives only the par value of the common stock.
		4. None of the above