Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $49.50. Limit Buy Orders Limit Sell Orders Price Shares Price Shares $49.30 500 $49.80 100 49.00 800 49.85 100 48.75 500 52.25 300 48.50 200 55.75 100 48.00 600 a. If a market buy order for 100 shares comes in, at what price will it be filled? b. At what price would the next market buy order be filled?

Incomplete question. The attached image shows the full question.

$50.25; $51.50

Explanation:

First, remember that a market order is one that is designed to execute a trade at the best possible market price.

This means that from the various sell orders, if a market buy order for 100 shares comes in, it will pair up with the best price (the lowest price ) from the list of sell orders. Hence, we could observe from the attached image that $50.25 is the first lowest sell order price for 100 shares; followed by $51.50.

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