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Consider the following limit order book of a specialist. The last trade in the stock occurred at a price of $40. If a market buy

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Consider the following limit order book of a specialist. The last trade in the stock occurred at a price of $40. If a market buy order for 100 shares comes in, at what price will it be filled? Limit Buy Orders Price Shares Limit Sell Orders Price $40.25 $40.50 $39.75 100 100 Shares 100 100 $39.50 Picture $39.75 $40.50 $40.375 $40.25 or less

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