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Which of the following is TRUE in normal backwardation? Futures prices tend to: A. fall over the life of the contract because hedgers are net short and have to receive compensation for bearing risk. B. rise over the life of the contract because speculators are net long and have to receive compensation for bearing risk. C. fall over the life of the contract because speculators are net short and have to receive compensation for bearing risk. D. rise over the life of the contract because hedgers are net long and have to receive compensation for bearing risk. |