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Write one short comment (1-2 sentences) for each of these statements about the bid-ask spread, explaining why it is (or not) true: i) It is

Write one short comment (1-2 sentences) for each of these statements about the bid-ask spread, explaining why it is (or not) true:

i) It is related to trading costs

ii) It includes dealer's inventory costs

iii) It can be used as a liquidity measure.

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