hard · Market Microstructure
In a call auction, the following orders are received: Buy market (200 shares), Buy limit @ 10.10 (300 shares), Buy limit @ 10.00 (500 shares). Sell market (100 shares), Sell limit @ 9.90 (400 shares), Sell limit @ 10.00 (300 shares).
What is the volume-maximizing clearing price?
- 10.10
- 10.00
- 9.90
- 10.05
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