McDonald's stock is now selling for $57 per share.Kim wants to buy 100 shares but only if she can do so at $55 or less.She should place a(n)

Question

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Kim should place a limit order, which allows her to specify the maximum price she is willing to pay for the stock. A market order could result in her paying more than she wanted if the stock price rises unexpectedly, and a stop order is used to limit losses, not to buy stock. An odd-lot order refers to a purchase of fewer shares than the normal trading unit, and is not relevant to this situation.

McDonald's Stock Is Now Selling for $57 Per Share