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Suppose the current state of the limit order book is as follows. Price $32 $31 $29 $28 Shares 20 10 5 15 Type Ask (limit sell) Ask (limit sell) Bid (limit buy) Bid (limit buy)

Suppose the current state of the limit order book is as follows. Price $32 $31 $29 $28 Shares 20 10 5 15 Type Ask (limit sell) Ask (limit sell) Bid (limit buy) Bid (limit buy)

Essentials Of Investments
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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11. Suppose the current state of the limit order book is as follows. Price $32 $31 $29 $28 Shares 20 10 5 15 Type Ask (limit sell) Ask (limit sell) Bid (limit buy) Bid (limit buy)
Transcribed Image Text:11. Suppose the current state of the limit order book is as follows. Price $32 $31 $29 $28 Shares 20 10 5 15 Type Ask (limit sell) Ask (limit sell) Bid (limit buy) Bid (limit buy)
(b) Suppose you want to submit a market order to sell shares. Suppose you require that the weighted-average per-share price you pay cannot be lower than $28.5. What is the maximum number of shares you can sell?
Transcribed Image Text:(b) Suppose you want to submit a market order to sell shares. Suppose you require that the weighted-average per-share price you pay cannot be lower than $28.5. What is the maximum number of shares you can sell?
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