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Under the Black-Scholes model, a (long) European call option is equivalent to (or can be replicated by) a portfolio of _________. short stock and short

Under the Black-Scholes model, a (long) European call option is equivalent to (or can be replicated by) a portfolio of _________.

short stock and short T-bills (borrowing cash)

short stock and long T-bills

long stock and long T-bills

long stock and short T-bills (borrowing cash)

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