Hello I need help on an economics related commodity futures market question. Below I have provided an image of the question and an image of some notes that might help. (:

Question 9 2 pts Liquidity is dened as the ability to convert an asset to cash quickly. In futures it is exhibited by the ability to buy or sell a futures contract easily and without the need to pay up to buy or needing to discount to sell. How is this exhibited in futures prices? 0 A wide spread between the bid price and the ask or offer price. 0 An increase in price during the daily trading session. 0 A narrow spread between the bid price and the offer or ask price. 0 A decrease in price during the daily trading session. Lig u id ity --Defined as the ability to convert an asset to cash quickly. Also known as "marketability." -- In futures it means the degree to which a futures contract can be bought or sold in the market without affecting it's current price. Liquidity is characterized by a high level of trading activity. Assets that can be easily bought or sold are known as liquid assets. --Liquidity is exhibited by the spread between the bid and offer in a futures market. The narrower the spread, the more liquid is that future, and the wider the spread, the more illiquid is that market