Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Vixen's stock on the previous day was $65.50, what value goes in blank (D)?
A. 64.00
B. 65.15
C. 65.75
D. 65.00
E. There is not enough information given to answer this question.
Answer: E
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According to the "rational expectations" school of thought in macroeconomics, the short-run Phillips curve is ________ in face of unanticipated changes in monetary policy
A) negatively sloped B) vertical C) positively sloped D) horizontal
Which of the following would NOT affect a good's price elasticity of demand?
A) the ease of substitution between goods B) the cost of producing the good C) the number of substitute goods available D) the proportion of one's budget spent on an item
In the short run, if a perfectly competitive firm is producing at a price above average total cost, its economic profit must be:
a. positive. b. zero. c. negative. d. normal.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.