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QuickOil enters into a short futures contract when the futures price of oil is $50 per barrel. The contract specifies delivery of 100,000 barrels of

QuickOil enters into a short futures contract when the futures price of oil is $50 per barrel. The contract specifies delivery of 100,000 barrels of oil. How much does QuickOil lose if the price of oil is $57 at the end of the contract?

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