Question: could anyone give me a step by step solution, thank you! Question 8 Not yet answered Marked out of 1.00 7 Flag question 13 OOOO

could anyone give me a step by step solution, thank you! Questioncould anyone give me a step by step solution, thank you!

Question 8 Not yet answered Marked out of 1.00 7 Flag question 13 OOOO 19 Consider the fragmented market for Stock A, which is comprised of four exchanges. Exchange A Exchange B Ask Volume Price Bid Volume Ask Volume Price Bid Volume 357 $ 4.20 634 $ 4.20 480 $ 4.15 501 $ 4.15 501 $ 4.10 382 $ 4.10 350 4.05 350 $ 4.05 4.00 300 4.00 300 $ 3.95 315 $ 3.95 304 $ 3.90 358 $ 3.90 220 $ 3.85 283 $ 3.85 273 Exchange C Exchange D Ask Volume Price Bid Volume Ask Volume Price Bid Volume 254 $ 4.20 405 $ 4.20 356 $ 4.15 371 $ 4.15 389 4.10 258 $ 4.10 350 $ 4.05 350 $ 4.05 $ 4.00 300 $ 4.00 300 $ 3.95 286 $ 3.95 214 $ 3.90 259 3.90 279 $ 3.85 345 $ 3.85 341 Finisha Time le A trader wants to purchase as much of Stock A as possible, without exceeding a marginal price impact cost of $0.05 per share. If the trader can only route their order to one exchange, they should route their order to: Select one: a. Exchange B b. Exchange A c. Exchange D d. Exchange C

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