Now reconsider the previous problem assuming that Fincorp sells in an exchange market li...

Now reconsider the previous problem assuming that Fincorp sells in an exchange market like the NYSE.

a. Is there any chance for price improvement in the market orders considered in parts (a) and (b)?

b. Is there any chance of an immediate trade at $55.37 for the limit buy order in part (d)?

Previous Problem-19

Here is some price information on Fincorp stock. Suppose first that Fincorp trades in a dealer market.

a. Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed?

b. Suppose you have submitted an order to sell at market. At what price will your trade be executed?

c. Suppose you have submitted a limit order to sell at $55.62. What will happen?

d. Suppose you have submitted a limit order to buy at $55.37. What will happen?