Problem

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

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?

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Solutions For Problems in Chapter 3

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