Describe in words the hedging strategy that the company should take in each of these cases. Remember that a possible answer is that the company should not be hedging at all

a) A US manufacturing firm would like to hedge fluctuations in the price of steel. Steel trades on futures exchanges.

b) A small retailer may need to issue 50 million of debt in 6 months, and would like to hedge against the risk that interest rates go up.

c) A US manufacturing firm that sells cars in Mexico but produces cars in the US would like to hedge against currency risk.

d) A CFO believes that the price of copper (one of the company's main inputs) is going to decrease, and wants to generate profits from this decrease.