An option is a contract that always
A) gives the owner the right, but not the obligation, to buy shares of a stock at a specified price within the time limits of the contract.
B) gives the owner the right, but not the obligation, to sell shares of a stock at a specified price within the time limits of the contract.
C) states that the seller agrees to provide a particular good to the buyer on a specified future date at an agreed-upon price.
D) gives the owner the right, but not the obligation, to buy or sell shares of a stock at a specified price within the time limits of the contract.
D
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In a graph that illustrates a perfectly competitive firm, the marginal revenue curve is
A) a diagonal line that lies below the firm's demand curve. B) a line that intersects the firm's demand curve from below at its lowest point. C) a line that intersects the firm's average total cost curve from below at its lowest point. D) the same as the firm's demand curve.
The Chinese economy has embarked on a large-scale process of privatization since
A. 1949. B. The mid-1950s. C. The mid-1960s. D. The late 1970s.