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4. Suppose that the last sale of Company X stock was at a price of $50. Further suppose that an investor wishes to place

4. Suppose that the last sale of Company X stock was at a price of $50. Further suppose that an investor wishes to place a market order to purchase 25,000 shares of Company X stock. What is the volume weighted average price that the investor will trade at in each of the market? What if the investor purchase 120,000 shares instead 25,000? # shares 30,000 40,000 10,000 20,000 30,000 10,000 Market A Offer ($) 50.00 50.02 50.05 50.06 50.07 50.09 Market B # shares 10,000 10,000 70,000 80,000 60,000 40,000 Offer ($) 50.00 50.01 50.03 50.04 50.05 50.05

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