You find the following order book on a particular stock. The last trade on 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
a. It you place a market buy order for 100 shares, at what price will it be filled?
b. If you place a market sell order for 200 shares, at what price will it be filled?
c. Suppose you place a market order to sell 500 shares. At what price will it be filled?