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Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $50. TTT Limit
Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $50. TTT Limit Sell Orders Limit Buy Orders Shares 500 900 700 Shares 100 100 300 100 Price Price $49.75 49.70 49.65 49.60 48.65 $49.80 49.85 49.90 49.95 400 600 a. If a market buy order for 100 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At what price would the next market buy order be filled? (Round your answer to 2 decimal places.) Next best price
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