Question: The exhibit below illustrates the limit orders outstanding on a markets book following the arrival of a large order. Exhibit: Market Limit Order Book Buyer

  1. The exhibit below illustrates the limit orders outstanding on a markets book following the arrival of a large order. Exhibit: Market Limit Order Book

Buyer Bid Size Limit Price () Offer Size Seller
Jones 9 49.9
Victor 8 50.0
Stevens 6 50.1 7 Allen
50.2 8 Cunningham
50.3 12 Whittaker

Kim Toyama submits a day order to buy 16 contracts, limit 50.2. What is Toyamas average trade price? (Show your work)

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