You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. $\begin{array}{lc}\text{ Portfolio Value}& \$\text{ 1million }\\ \text{ Portfolio’s Beta}& 0.86\\ \text{ Current S\&P500 value }& 990\\ \text{Anticipated S\&P500 Value }& 915\end{array}$


For a 75-point drop in the S&P 500, by how much does the futures position change?

A) $200,000
B) $50,000
C) $250,000
D) $500,000
E) $18,750

​For products like parking lots and hotels,costs of building capacity are mostly fixed or sunk and firms in this industry typically face capacity constraints.Therefore,

A) ​If SRMR>SRMC at capacity,then the firms should price to fill capacity
B) If SRMR<SRMC at capacity,then the firms should price to fill capacity
C) If LRMR>LRMC at capacity,then the firms should price to fill capacity
D) ​If LRMR>LRMC at capacity,then the firms should price to fill capacity

Studies of groups making decisions indicate that they spend too little time in the ___ stage of decision-making.

A) orientation
B) identity
C) decision
D) implementation
E) judging

Which of the following would increase the supply of health care services?

A) increased practice of defensive medicine
B) more tax subsidies for consumers
C) increases in physicians' productivity
D) increases in health insurance coverage

Vicky asks Walt, a cobbler, to repair a pair of boots. There is no discussion of a price, and Vicky and Walt do not sign any documents. After the repair, Walt hands Vicky a bill. With respect to Vicky's obligation to pay the bill, this is

A) an express contract.
B) an implied contract.
C) a quasi contract.
D) no contract.

Trust in one's direct leader has a positive influence on trust of ________ leaders.

Purchase allowances refer to a price reduction (allowance)granted to a buyer of defective or unacceptable merchandise.