You find the following order book on a particular stock. The last trade on the stock was at $70.54.

Buy Orders----------------Sell Orders

Shares Price--------------Shares Price

250 70.53-------------------100 70.56

100 70.52-------------------400 70.57

900 70.51-------------------1000 70.59

75 70.49---------------------700 70.60

--------------------------------900 70.61

a. It you place a market buy order for 100 shares, at what price will it be filled?

b. If you place a market sell order for 200 shares, at what price will it be filled?

c. Suppose you place a market order to sell 500 shares. At what price will it be filled?