Call auction Graph total market demand and supply curves in {price, quantity} space for a call auction market where the following orders are submitted to a central auctioneer: Limit orders to buy: 100 shares at $3.00, 200 shares at $4.00, 200 shares at $3.50, and 500 shares at $2.50 . Limit orders to sell: 500 shares at $5.00, 600 shares at $3.00, and 500 shares at $4.00. Market orders to buy: a total of 500 shares. Market orders to sell: a total of 200 shares. What is the market clearing price? What quantity of stock is traded? Are all orders that are executable at the market clearing price fully lled?

A B c D F G H J K L M N 1 \begin{tabular}{|l|r|r|} \hline Price & \multicolumn{1}{|c|}{ Bid } & \multicolumn{1}{|c|}{ Ask } \\ \hline 0.0 & 1000 & 0 \\ \hline 0.5 & 1000 & 0 \\ \hline 1.0 & 1000 & 0 \\ \hline 1.5 & 1000 & 0 \\ \hline 2.0 & 1000 & 0 \\ \hline 2.5 & 1000 & 0 \\ \hline 3.0 & 500 & 600 \\ \hline 3.5 & 300 & 600 \\ \hline 0 & 100 & 1100 \\ \hline 2.0 & 0 & 1100 \\ \hline 3.5 & 0 & 1600 \\ \hline \end{tabular} Aggregace Demand and Aggregace Supply with no market orders Aggregate Demand and Aggregate Supply with market orders