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Suppose the spot price of a commodity is $39 per unit. The 3, 6, 9, and 12-month forward prices for the commodity are $39.54, $40.09,

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Suppose the spot price of a commodity is $39 per unit. The 3, 6, 9, and 12-month forward prices for the commodity are $39.54, $40.09, $40.64, and $41.21, respectively. This forward curve is an example of... O a. both contango and backwardation. Ob.contango. Oc. neither contango nor backwardation. O d. backwardation

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