medium · Market Microstructure
A call auction is being held to determine the opening price of a stock. Cumulative demand is 1,000 shares at $10.00 and 800 shares at $10.10. Cumulative supply is 700 shares at $10.00 and 900 shares at $10.10.
At which price will the most volume be traded?
- $10.10
- The auction will fail due to an imbalance.
- $10.00
- $10.05
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