What Is the Highest Price at Which the May Coffee

question 39

Multiple Choice

What is the highest price at which the May coffee futures contract traded during this day?
$\begin{array}{lrr}&\text { Contract } & \text { High }& \text { Low }& \text { Close}& \text { Chg }\\\text { May, Coffee, }& 37,500 \text { lbs., cents } & 138.00& 135.50 & 137.15 & 2.20\\ \text { per I b } &\\\text { Dec, Cotton, }&\text { 50,000 lbs., cents } & 80.59 & 78.85 & 80.63 & .27\\ \text {per I b } &\\\end{array}$

• A)$1.3715
• B)$1.3800
• C)$137.15
• D)$138.00
• E)$140.20

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Definitions:

Public Good

A benefit of goods or services, free of charge to everyone in society, provided by public authorities or private organizations or individuals, without seeking financial gain.

Samuelson's Theory

Refers to Paul Samuelson's economic theories, particularly his contributions to public goods, welfare economics, and consumption theory.

Public Expenditure

Government spending on goods and services, including infrastructure projects, healthcare, and education, intended for the public's benefit.

Public Good

A product or service that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without reducing its availability to others.