You Purchased Seven September Wheat Futures Contracts at the Open

question 48

Multiple Choice

You purchased seven September wheat futures contracts at the open today and sold those contracts at the close. What is your total profit or loss on these contracts?
$\begin{array}{llll}&\text { Contact } & \text { Open } & \text {High} & \text { Low}& \text { Close}\\\text { Sep. Corn. }&\text { 5,000 bu, cents/bu } & 615.50 & 618.25& 608.00 & 612.50\\\text { Sep. Wheat, }&\text { 5,000 bu, cents/bu } &814,00 &820.00 &808,50 & 811,00\end{array}$

• A)$10,500
• B)$1,050
• C)$105
• D)$10.50
• E)$.03

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Definitions:

Scrap

Waste materials or discarded objects that can be recycled or reused, often leftover from manufacturing and consumption.

Marginal Abatement Cost

Represents the cost associated with eliminating an additional unit of a negative output, such as pollution.

Emissions Permit

A legal right granted by a government to emit a certain amount of pollutants into the atmosphere; often used in cap and trade programs.

Refundable Deposit

An amount of money given as security for an item that is intended to be returned, with the promise of repayment.