Question $3$

Consider a hypothetical NASDAQ level II screen for the shares of a corporation. Suppose the displayed ask is $$20\mathrm{.}05$ for $100$ shares and the displayed bid is $$20$ for $150$ shares. What happens if another dealer places a limit order to buy $50$ shares for $$20\mathrm{.}02?$

Status: $[$object Object$]$

$1$ point

There will be a transaction of $50$ shares at $$20.$

There will be a transaction of $50$ shares at $$20\mathrm{.}05.$

No transaction will occur.

There will be a transaction of $100$ shares at $$20\mathrm{.}05.$