Imagine the following order book for stock $A$ :

$\backslash$table$[[$Bid Volume $($Number of Shares$),$Bid Price,Ask Price,Ask Volume $($Number of Shares$)],[100,000,10\mathrm{.}01,10\mathrm{.}02,5],[150,000,10\mathrm{.}00,10\mathrm{.}03,5],[200,000,9\mathrm{.}99,10\mathrm{.}04,1],[400,000,9\mathrm{.}98,10\mathrm{.}04,90]]$

If you want to buy $10$ shares of A with a market order, what is the average execution price you would pay?

If you place a limit$-$buy order at $$9\mathrm{.}99,$ what are the chances that your order would be executed?

The average execution price is $10\mathrm{.}025$ ; and limit$-$buy order at $$9\mathrm{.}99$ is likely to be executed.

The average execution price is $10\mathrm{.}02$ ; and limit$-$buy order at $$9\mathrm{.}99$ is likely to be executed.

The average execution price is $10\mathrm{.}03$ ; and limit$-$buy order at $$9\mathrm{.}99$ is unlikely to be executed.

The average execution price is $10\mathrm{.}025$ ; and limit$-$buy order at $$9\mathrm{.}99$ is unlikely to be executed.