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Consider an economy with three assets and three states. Let be the matrix of asset payoffs at t=1 and p the vector of asset prices at t=0.
Assume p3 =2. a) Does an arbitrage portfolio exist?
b) Can you create a portfolio with t=1 payoff of (0,1,2) and what is the price of such a portfolio?
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p=10, TC= 1000+2Q+.01Q^2, Q=?
points and its explanation
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