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Problem #6 (Bid-Ask Spread): 1. Define in your own words what is meant by the bid price and the ask price. 2. Suppose that Pepsi

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Problem #6 (Bid-Ask Spread): 1. Define in your own words what is meant by the "bid price and the ask price. 2. Suppose that Pepsi has a bid price of $168.50 and an ask price of $171.20. Its close price was $168.38 on February 25, 2022. What is Pepsis bid-ask spread? 3. Suppose the average bid-ask spread is $1.00. Describe why your company's bid-ask spread might be lower or higher

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