Sally has instructed her broker to buy a certain stock if,and only if,its share price is $70 or less.Sally has placed a limit buy order.

Question

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A limit buy order means that the purchase price is limited to a maximum price that the buyer is willing to pay. In this case, Sally has set a limit of $70 or less, meaning that the purchase will only occur if the share price is at or below $70.

Sally Has Instructed Her Broker to Buy a Certain Stock