Indicate with the corresponding choice to which type of marketing tool each statement best applies. Assume the crop will be delivered for final sale in 6 months. also known as "hedging" 1. Cash market sale to a local buyer establishes a fixed price for a future sale that cannot be undone 2. Forward contract with a local buyer establishes a minimum price but allows the seller to benefit from future price increases 3. Futures contract sale 4. PUT options exposes the seller to the most risk in the event of a price decline