Problem 7-3 Stock Quotes (LO1)

Here is a small part of the order book for Mesquite Foods:

Bid			Ask
	Price	Size		Price	Size
$	95	160	$	95.5	320
$	94.5	320	$	95.8	320
$	93	640	$	96	540
$	91.8	480	$	96.5	580

a. Georgina Sloberg submits a market order to sell 160 shares. What price will she receive? Price?

b. Norman Pilbarra submits a market order to buy 640 shares. What is the maximum price that he will pay? (Round your answer to 2 decimal places.) Maximum Price