NO.PZ2015121801000049
问题如下：
With respect to trading costs, liquidity is least likely to impact the:
选项：
A.stock price.
B.bid–ask spreads.
C.brokerage commissions.
解释：
C is correct.
Brokerage commissions are negotiated with the brokerage firm. A security’s liquidity impacts the operational efficiency of trading costs. Specifically, liquidity impacts the bid–ask spread and can impact the stock price (if the ability to sell the stock is impaired by the uncertainty associated with being able to sell the stock).
老师您好，能翻译一下这道题目的题干和选项吗？
