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As an economic function of futures markets, what does price discovery mean? The futures price and spot price converge over time 2. The spot price

As an economic function of futures markets, what does price discovery mean?

  1. The futures price and spot price converge over time

2. The spot price is a discounted value of the futures price

3. The futures price provides information about the expected future spot price

4. In equilibrium, the spot price and futures price are equal

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