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The following order book exists for a particular stock. The last trade on the stock was at $60.36. Buy Orders Sell Orders Shares Price Shares

The following order book exists for a particular stock. The last trade on the stock was at $60.36.

Buy Orders Sell Orders
Shares Price Shares Price
250 $60.35 200 $60.38
150 60.34 700 60.39
900 60.33 1,000 60.41
150 60.31 550 60.42
450 60.43

a. If you place a market buy order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)

b. If you place a market sell order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)

c. Suppose you place a market order to buy 350 shares. At what price will it be filled? Choose the appropriate answer.

  • 200 shares at $60.43 and 150 shares at $60.42

  • 350 shares at $60.43

  • 350 shares at $60.36

  • 200 shares at $60.38 and 150 shares at $60.39

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