How does tick size affect market liquidity?

Question 9 options:

	A. Higher tick size lowers the cost of jumping the queue and is good for both retail and institutional block traders.
	B. Higher the tick size, lower the depth, and higher the serial correlation between trade prices.
	C. Lower tick sizes benefit retail traders, can hurt institutional block traders, and prompts order splitting.
	D. Tick size does not effect quotes spread or quoted depth.