请问老师，第三个trade的影响不算进去是因为时间间隔长吗？已经没有影响了，对吗？

问题如下：

Based on Exhibit 2, the market impact relating to Trade 2, on a per share basis, is closest to:

选项：

$0.02.

$0.03.

$0.07.

解释：

A is correct. Market impact, or price impact, is the effect of a trade on transaction prices. After the first trade (Trade 1) was executed at $25.20, Trade 2 was executed at $25.22, which is $0.02 per share higher than the trade price of Trade 1. So, the execution of Trade 1 led to a price impact of $0.02 per share on Trade 2.