Please explain

1. _____ hedgers incur losses on futures position when the futures price is ______ over time; and ______ hedgers incur losses on futures position when the futures price is _______ over time.

a. long; falling; short; falling

b. long; increasing; short; increasing

c. short, falling; long; increasing;

d. long; falling; short; increasing

e. long; steady; short; steady

2. All else equal, when the cost of carry is ________ than the convenience yield, the forward/futures prices __________ with contract maturity.

a. greater; do not change

b. greater; increase

c. smaller; increase

d. greater; decrease

e. smaller; do not change