Here is a small part of the order book for Mesquite Foods: Bid Price Size 100 200 Size Price $ 103.50 $ 103 200 $ 102.50 $103.80 200 $ 101 400 $ 104 300 $ 99.80 300 $ 104.50 400 a. Georgina Sloberg submits a market order to sell 100 shares. What price will she receive? Ask Answer is complete and correct. Price $ 103 b. Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay? Note: Round your answer to 2 decimal places. Answer is complete but not entirely correct. Maximum price $101.000 c. Carlos Ramirez submits a limit bid order at 105. Will it execute immediately? Yes No

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter11: Investment Planning
Section: Chapter Questions
Problem 4FPE
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Here is a small part of the order book for Mesquite Foods:
Bid
Size
100
Price
Size
200
$ 103
$ 102.50
200
$ 101
300
$ 99.80
400
a. Georgina Sloberg submits a market order to sell 100 shares. What price will she receive?
200
400
300
Ask
Price $103
Price
$ 103.50
$ 103.80
$ 104
$ 104.50
Answer is complete and correct.
b. Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay?
Note: Round your answer to 2 decimal places.
Answer is complete but not entirely correct.
Maximum price
$ 101.00
c. Carlos Ramirez submits a limit bid order at 105. Will it execute immediately?
Yes
No
Transcribed Image Text:Here is a small part of the order book for Mesquite Foods: Bid Size 100 Price Size 200 $ 103 $ 102.50 200 $ 101 300 $ 99.80 400 a. Georgina Sloberg submits a market order to sell 100 shares. What price will she receive? 200 400 300 Ask Price $103 Price $ 103.50 $ 103.80 $ 104 $ 104.50 Answer is complete and correct. b. Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay? Note: Round your answer to 2 decimal places. Answer is complete but not entirely correct. Maximum price $ 101.00 c. Carlos Ramirez submits a limit bid order at 105. Will it execute immediately? Yes No
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