Consider the Following Limit Order Book of a Specialist

question 13

Multiple Choice

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

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Definitions:

Square

To multiply a number by itself, or a geometric figure with four equal sides and four right angles.

Y-axis

The vertical line in a coordinate plane that measures the second coordinate of a point (its ordinate).

X-axis

The x-axis is the horizontal axis in a coordinate plane, used to represent one dimension of data or to plot the values of a function.

Ordered Pairs

A pair of elements (x, y), representing coordinates on a Cartesian plane.