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The limit order book for a security is: Unfilled Limit Orders Buy Orders Sell Orders 36.12 100 36.36 300 36.20 500 36.38 200 36.23 200

The limit order book for a security is:

Unfilled Limit Orders

Buy

Orders

Sell

Orders

36.12

100

36.36

300

36.20

500

36.38

200

36.23

200

36.41

200

a)The specialist receives the following, in order; How, if at all, are these orders filled?

Market order to buy 400 shares

Limit order to buy 150 shares at 36.38

Limit order to buy 100 shares at 35.30

Market order to sell 150 shares

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