Question: Consider the queued orders in the following call auction. The call price is determined by first maximising executable volume and then minimising trading surplus.

Consider the queued orders in the following call auction. The call price

Consider the queued orders in the following call auction. The call price is determined by first maximising executable volume and then minimising trading surplus. Buy Quantity Price $2.64 $2.71 $2.75 $2.85 $2.91 $2.99 $3.05 $3.11 If no more orders are entered, the trading surplus at the call would be: 0 0 0 Sell Quantity 1100 1400 1700 2100 1000 1400 900 1200 1100 0 0 2200 0

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