Assume the DJIA Closed at 15,150 Last Night

question 77

Multiple Choice

Assume the DJIA closed at 15,150 last night. The divisor is .123017848. Assume that 29 of the stocks in the index were unchanged today. One stock increased in value from $44.80 a share yesterday to $47.90 a share today. What is the DJIA index value at the close of trading today?

• A)15,175.20
• B)15,208.30
• C)15,365.60
• D)15,412.20
• E)15,524.10

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Definitions:

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogeneous products, free entry and exit, and perfect information, leading to firms being price takers.

Equilibrium Wage

The pay rate where the amount of labor provided is equal to the amount of labor required.

Marginal Product

The additional output resulting from the use of one more unit of a variable input, such as labor or capital.

Equilibrium Wage

The salary point at which labor supply aligns perfectly with labor demand.