Use the Table for the Question(s)below

question 2

Multiple Choice

Use the table for the question(s) below.
Consider the following information on options from the CBOE for Merck:
-How many of the January 2009 call options are in the money?

• A)2
• B)4
• C)1

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Definitions:

Agricultural Commodities

Products derived from farming or the cultivation of land such as grains, vegetables, fruits, and livestock.

Supply Elasticities

Measures of how responsive the quantity supplied of a good is to a change in its price.

Long-Run Equilibrium

A state in which all factors of production and outputs are adjustable, and all economic processes are fully adapted to any changes.

Competitive Supply

The total quantity of a good or service that is available to consumers, determined by the sum of all individual suppliers’ quantities at each price level in a competitive market.