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Problem 2. (5pt) Write one short comment (1-2 sentences) for each of these statements about the bid-ask spread, explaining why it is (or not )

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Problem 2. (5pt) Write one short comment (1-2 sentences) for each of these statements about the bid-ask spread, explaining why it is (or not ) true: i) It is related to trading costs ii) It includes dealer's inventory costs iii) It can be used as a liquidity measure

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