Billiton is the$$ world's largest mining firm.BHP expects to produce $1\mathrm{.}50$ billion pounds of copper next$$ year, with a production cost of $$$$0\mathrm{.}90$ per pound.

a$.$ What will be BHP$\text{'}$s operating profit from copper next year if the price of copper is $$$$1\mathrm{.}25,$$$1\mathrm{.}50,$ or $$$$1\mathrm{.}75$ per$$ pound, and the firm plans to sell all of its copper next year at the going$$ price?

b$.$ What will be BHP$\text{'}$s operating profit from copper next year if the firm enters into a contract to supply copper to end users at an average price of $$$$1\mathrm{.}45$ per$$ pound?

c$.$ What will be BHP$\text{'}$s operating profit from copper next year if copper prices are described as in part $($a$),$ and the firm enters into supply contracts as in part $($b$)$ for only $50\%$ of its total$$ output?

d$.$ For each of the situations$$ below, indicate which of the strategies $($a$),($b$),$ or $($c$)$ might be optimal.

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Part $1$

a$.$ What will be BHP$\text{'}$s operating profit from copper next year if the price of copper is $$$$1\mathrm{.}25,$$$1\mathrm{.}50,$ or $$$$1\mathrm{.}75$ per$$ pound, and the firm plans to sell all of its copper next year at the going$$ price?

The operating profit when the price per pound is $$$$1\mathrm{.}25$ will be $$$enter your response here billion.$($Round to two decimal$$ places.$)$