Consider the queued orders in the following call auction. Buy Quantity Sell Price Quantity 1800 $9.07 $9.01 $8.94 $8.92 $8.88 2200 2700 1700 2800 1800 $8.86 $8.83 $8.77 1600 900 800 2000 The call price is determined by first maximising executable volume and then minimising trading surplus. If no more orders are entered, the trading surplus at the call would be: a. 1500 O b. 1400 c. 2200 d. Other

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
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F3

Consider the queued orders in the following call auction.
Buy
Quantity
Sell
Price
Quantity
$9.07
$9.01
$8.94
$8.92
$8.88
$8.86
$8.83
$8.77
1800
2200
2700
1700
2800
1800
1600
900
2000
800
The call price is determined by first maximising executable volume and then minimising trading
surplus. If no more orders are entered, the trading surplus at the call would be:
а.
1500
b. 1400
С. 2200
O d. Other
O e. 0
Transcribed Image Text:Consider the queued orders in the following call auction. Buy Quantity Sell Price Quantity $9.07 $9.01 $8.94 $8.92 $8.88 $8.86 $8.83 $8.77 1800 2200 2700 1700 2800 1800 1600 900 2000 800 The call price is determined by first maximising executable volume and then minimising trading surplus. If no more orders are entered, the trading surplus at the call would be: а. 1500 b. 1400 С. 2200 O d. Other O e. 0
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