Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay?

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14-02-2020
Business

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Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay?

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abdulmajeedabiodunac abdulmajeedabiodunac · Answer 1 · 2020-02-16T17:24:56+01:00

Answer:

The question is missing stock quotes which are found in the attached.

The maximum price that Norman Pilbarra will pay to buy 400 shares is $103.8 per share.

Explanation:

Judging from the attached stock quotes,the first 200 shares offered for sale is $103.5 per share while the next 200 shares is at a price of $103.8.

This then means that the maximum price for 200 shares is $103.8.This information is derived from the ask prices not bid prices since ask price is for sale,whereas bid is for purchase.