$101\mathrm{.}5-0\mathrm{.}07(-\mathrm{.}07\%)$

$$

Order Book

Top of Book

$$ Bid Ask

Price Size Price Size

$101\mathrm{.}46100101\mathrm{.}47199$

$101\mathrm{.}45357101\mathrm{.}48600$

$101\mathrm{.}44200101\mathrm{.}49300$

$101\mathrm{.}43400101\mathrm{.}5700$

$101\mathrm{.}42427101\mathrm{.}51400$

a$)$If an investor's market order comes in to buy $100$ shares, at what price$($s$)$

will it be filled?

Suppose there is no additions to the limit$-$order book. What is the new bid$-$ask spread?

b$)$If a second investor sends a merket sell order of $250$ shares, at what price$($s$$will the order be traded at$?$

Suppose there is no additions to the limit$-$order book. What is the new bid$-$ask spread?

c$)$If a third investor's limit$-$buy order of $100$ shares comes in at $101\mathrm{.}45,$ will it be excecuted? Does it affect the bid$-$ask spread? How does it affect the limit order book?