A continuous auction starts with an empty order book. The market opens and the following sequence of orders arrives: 10:00am Buy 2, limit 10 10:01am Buy 3, limit 11 10:20am Sell 1, limit 13 10:21am Buy 2, limit 13 10:23am Sell 2, limit 9 10:32am Sell 2 at the market 10:35am Buy 1, limit 12 What is the last trade price?
A continuous auction starts with an empty order book. The market opens and the following sequence of orders arrives: 10:00am Buy 2, limit 10 10:01am Buy 3, limit 11 10:20am Sell 1, limit 13 10:21am Buy 2, limit 13 10:23am Sell 2, limit 9 10:32am Sell 2 at the market 10:35am Buy 1, limit 12 What is the last trade price?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:A continuous auction starts with an
empty order book. The market opens
and the following sequence of orders
arrives:
10:00am Buy 2, limit 10
10:01am Buy 3, limit 11
10:20am Sell 1, limit 13
10:21am Buy 2, limit 13
10:23am Sell 2, limit 9
10:32am Sell 2 at the market
10:35am Buy 1, limit 12
What is the last trade price?
A.11 B.12 C.9 D.10 E.13
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