Here are security payoffs for three economies in which there are either two states and two securities or three states and three securities. The states are rows and the columns securities. It's okay if the payoff of a security is negative in one or more states; it simply means that the owner of the security pays that amount rather than receives it Under the payoff matrices are the desired payoffs of a new security, C, that you will create by combining units of the existing securities in the corresponding market. m Y Z X Y Z Y a 5 10 8 8 9 7 Market 1-a 7 8 Market 2 - b a Market 3 - b 7 4 4 5 0 10 b 11 10 3 3 9 c 4 1 7 -- Cb15 1. Market 1 is complete. Mark value: 1 Answer type: True or False 2 How many units of security X must be held to get payoff in Market 1? (enter -99 if Market 1 is incomplete) Mark value: 1 Answer type: Real number 3. Only one of the 3x3 markets is complete. Which one? (enter 2 or 3) Mark value: 1 Answer type: Integer 4. How many units of security X must be held to get payoff in the 3x3 market that is complete? Mark value1 Answert Real number Here are security payoffs for three economies in which there are either two states and two securities or three states and three securities. The states are rows and the columns securities. It's okay if the payoff of a security is negative in one or more states; it simply means that the owner of the security pays that amount rather than receives it Under the payoff matrices are the desired payoffs of a new security, C, that you will create by combining units of the existing securities in the corresponding market. m Y Z X Y Z Y a 5 10 8 8 9 7 Market 1-a 7 8 Market 2 - b a Market 3 - b 7 4 4 5 0 10 b 11 10 3 3 9 c 4 1 7 -- Cb15 1. Market 1 is complete. Mark value: 1 Answer type: True or False 2 How many units of security X must be held to get payoff in Market 1? (enter -99 if Market 1 is incomplete) Mark value: 1 Answer type: Real number 3. Only one of the 3x3 markets is complete. Which one? (enter 2 or 3) Mark value: 1 Answer type: Integer 4. How many units of security X must be held to get payoff in the 3x3 market that is complete? Mark value1 Answert Real number