You Purchased Four September Corn Futures Contracts at What Turned

question 2

Multiple Choice

You purchased four September corn futures contracts at what turned out to be the lowest price of the day and sold those contracts at today's close. What is your total profit or loss on this investment?
$\begin{array}{llll}&\text { Contact } & \text { Open } & \text {High} & \text { Low}& \text { Close}\\\text { Sep. Corn. }&\text { 5,000 bu, cents/bu } & 615.50 & 618.25& 608.00 & 612.50\\\text { Sep. Wheat, }&\text { 5,000 bu, cents/bu } &814,00 &820.00 &808,50 & 811,00\end{array}$

• A)$287.50
• B)$1,100
• C)$2,875
• D)$1,100 .
• E)$14,250.

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Price Elasticity of Demand

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