Consider the following limit order book of a specialist. The last trade in the share occurred at a price of $40. If a market buy order for 100 shares comes in, at what price will it be filled?
A) $39.75
B) $40.25
C) $40.375
D) $40.25 or less

Question

Consider the following limit order book of a specialist. The last trade in the share occurred at a price of $40.  If a market buy order for 100 shares comes in, at what price will it be filled?
A) $39.75 
B) $40.25 
C) $40.375 
D) $40.25 or less

Quizplus · Accepted Answer

The Answer of Consider the following limit order book of a specialist. The last trade in the share occurred at a price of $40.  If a market buy order for 100 shares comes in, at what price will it be filled?
A) $39.75 
B) $40.25 
C) $40.375 
D) $40.25 or less

Consider the Following Limit Order Book of a Specialist