Lisa Patel, owner of Lisa's old-fashioned fried chicken is extremely concerned, the price of chicken continues to skyrocket, and as a small business she can't afford to have fluctuations in her pricing. Her so Binny has suggested that she should potentially hedge the price of chicken. she currently uses 300 chicken per month.

A) Lisa does her research and determines that the futures of chickens are current trading at $3,000 contract where 1 contract=3000 chickens. explain in detailed how Lisa would use the futures market to hedge her position.

B) a local supplier suggests that Lisa instead enter a deal with them, in the deal Lisa will enter into a forward contract with the supplier to buy 300 chickens a month at a forward price of $1.10 per chicken every month for the next twelve months. Explain in detailed how lisa would use the forward market to hedge her position.