If the Price of Milk Was $2

question 149

Multiple Choice

If the price of milk was $2.50 a litre and it is now $3.25 a litre, what is the percentage change in price?

• A)13 per cent
• B)30 per cent
• C)75 per cent
• D)77 per cent

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Definitions:

Long Position

Owning or buying securities with the expectation that their value will increase over time, allowing the investor to profit from the appreciation.

Wheat Future Contract

A legal agreement to buy or sell wheat at a predetermined price at a specified time in the future, used for hedging or speculation.

Spot Price

The current market price at which an asset, like a commodity, currency, or security, can be bought or sold for immediate delivery.

Bushel

A unit of volume that is used in the United States for trading and pricing agricultural commodities like corn, wheat, and soybeans.