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3) Consider the following limit-order book of a specialist. Limit Buy Orders Limit Sell Orders Price($) Shares Price ($) Shares 49.75 500 50.25 100 49.50

3) Consider the following limit-order book of a specialist.

Limit Buy Orders

Limit Sell Orders

Price($)

Shares

Price ($)

Shares

49.75

500

50.25

100

49.50

800

51.50

100

49.25

500

54.75

300

49.00

200

58.25

100

48.50

600

  1. If a market buy order for 100 shares comes in, at what price(s) will it be filled

  1. If a market buy order for 300 shares comes in, at what price(s) will it be filled?

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