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Order Book:market buy order, market sell order, market order

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You find the following order book on a particular stock. The last trade pn the stock was at $70.54

BUY ORDERS SELL ORDERS

Shares Price Shares Price
250 $70.53 100 $70.56
100 $70.52 400 $70.57
900 $70.51 1000 $70.59
75 $70.49 700 $70.60
900 $70.61

If you place a market buy order for 100 shares at what price will it be filled?
If you place a market sell order for 100 shares at what price will it be filled?
Suppose you place a market order to buy 400 shares. At what price will it be filled?

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Solution Summary

Analyzes prices for market buy and sell orders.

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You find the following order book on a particular stock. The last trade pn the stock was at $70.54

BUY ORDERS                   SELL ORDERS

Shares    Price             Shares   Price
250       $70.53              100      $70.56
100       $70.52              400      $70.57
900       ...

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