[Solved] If the price of the common stock exceeds the exercise price of a call for the holder the call is said to be A)naked. B)out of the money. C)in the money. D)covered. Total Utility: The aggregate level of satisfaction or benefit that a consumer derives from consuming a particular quantity of goods or services. Budget Constraint: The limit that the size of a consumer’s income (and the prices that must be paid for goods and services) imposes on the ability of that consumer to obtain goods and services. Money Income: Refers to the total amount of monetary earnings or receipts accruing to an individual or household, originating from various sources like wages, dividends, and benefits. Money Income: Refers to the total income received in monetary form, including wages, salaries, and other income sources.