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1. Clearly distinguish between the objectives of the speculator and hedger. Which is more likely to closely follow prices of futures contracts after a position

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1. Clearly distinguish between the objectives of the speculator and hedger. Which is more likely to closely follow prices of futures contracts after a position has been opened. Explain why? 2. Given the above T-account for a hedging transaction, what is the gross gain (disregarding broker commission and storage cost)? Show/ explain all your work for credit

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