Which one of the following positions would be a hedge for a corn farmer?

a$)$ Long corn put option

b$)$ Long corn call option

c$)$ Long corn futures

d$)$ None of these answers are correct.

Which characteristic best describes cyclical industries?

a$)$ Industies that are largely unaffected by economic downturns.

b$)$ Industries where business performance is closely tied to the economic cycle.

c$)$ Industries that provide products and services considered necessary regardless of the economic condition.

d$)$ Industries regulated by cyclic policies of the government.

Which fundamental concept is central to the dividend discount model $($ddm$)?$

a$)$ Predicting quarterly earnings reports.

b$)$ Evaluating a companx's market capitalization.

c$)$ Estimating the present value of future dividend payments.

d$)$ Analyzing historical stock price trends.