Final answer:
A level 3 subscriber to the NASDAQ system has the ability to enter bid and ask prices, allowing active participation in the market making process.
Step-by-step explanation:
A level 3 subscriber to the NASDAQ system may enter bid and ask prices. At this level, subscribers are typically active traders or market makers, who have the ability to quote buy and sell prices. This allows them to participate directly in the market-making process. Level 3 access provides the most comprehensive and detailed information of the NASDAQ's service levels, enabling subscribers to enter and change quotes, execute orders, and confirm trades. Essentially, these subscribers have the ability to influence the market with their quoted prices.