What is the expected return of an equally weighted portfolio comprised of the following three stocks?
state of economy probability of rate of return
state of economy if state occurs
stock a stock b stock c
boom .25 .19 .13 .07
normal .72 .15 .05 .13
bust .03 .29 .14 .22

What does the phrase limited liability mean in a corporate context?

Specialization—the division of labor—enhances productivity and efficiency by a) allowing workers to take advantage of existing differences in their abilities and skills. b) avoiding the time loss involved in shifting from one production task to another. c) allowing workers to develop skills by working on one, or a limited number, of tasks. d)all of the means identified in the other answers.

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.