Which of the Following Are Examples of Real Options

Multiple Choice

Which of the following are examples of real options?
I.the option to expand if an investment project succeeds;
II.the option to wait (and learn) before investing;
III.the option to shrink or abandon a project;
IV.the option to vary the mix of output or the firm's production methods

A) I only
B) I and II only
C) I, II, and III only
D) I, II, III, and IV