Question 3: In regards to live market quotes on stocks and options, which of the following is/are true? 1. Bid price is always higher than the Ask price because in order to win the bid, marker maker has to put out a higher price. 2. If you put in a market order (i.e. you do not specify a price), you will be filled at average of the bid and ask price. 3. The more liquid the market is, the more participants are in the market. Therefore the bid/ask spread will be larger as there are more participants putting out a wider range of bids and offers. A. Only 1 B. Only 2 C. 1 and 2 D. 1 and 3 E. None of the above