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A trader notices that Berkshire Hathaway’s Class A shares (BRK.A) are trading at $[BRKA], while Class B shares (BRK.B) are trading at $[BRKB]. Since each BRK.A share is economically equivalent to [N] BRK.B shares, she believes the prices should converge. That is, the price of [N] shares of BRK.B should equal 1 share of BRK.A. If the prices converge, what is net payoff will the trader earn? Enter your answer as a number of dollars, rounded to the nearest $0.01. For example, for $12,345.678, enter $12,345.68.

When purchasing on margin or short selling an asset, the broker that arranged the trade has ultimate control to close the position.

What is the price (present value) of a $100,000 T-Strip that matures in [T0].5 years if its yield is [r0] percent per year, continuously compounded? Enter your answer as a number of dollars, rounded to the nearest dollar. 

A trader shorts 150 shares of Datadog (DDOG) at $100 per share. The margin requirement is 60%. After one month, Datadog’s stock price falls to $85. What is the trader’s net profit per dollar of capital? Assume the margin deposit does not earn interest.

Futures exchanges are an example of competitive markets since:

An example of anecdotal observations would be

Diffusion is the movement of water molecules from an area of high solute concentration to an area of low solute concentration.

Which of the following is true of all cells?

Carbon-14 has the same number of protons and neutrons as Carbon-12

Fats that are liquid at room temperature