PLEASE HELP IM BEGGING:))) Complete the following questions related to the market supply for apples:
1) In which of the following markets would the supply of apples be more inelastic?
(T 1 mark)
a) apples in the present growing season.
b) apples in the next 10 years.
2) Justify your answer for question 1 by using at least two of the factors that affect
the elasticity of supply. (T 1 mark C 2 mark)

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out