The Black-Scholes-Merton model assumes that the volatility does not change throughout the option's life

John is selling his house to Paul. John knows his house is located in a flood hazard zone but does not disclose the fact to Paul because he knows Paul will not buy the house if he knows it is in a flood zone. John has interfered with the fulfillment of the contract by

a. committing fraud. b. being negligent. c. innocently misrepresenting a material fact. d. failing to carry out a duty.

In a(n) ________, sellers compete for the right to provide a product to a buyer

A) reverse auction B) dynamic auction C) open auction D) reserve auction E) price-lining auction