[求助] Foundations of Risk Management position, expected, contract, long

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In equilibrium, if the forward contact price of a firm's output is greater than the expected future price?
A. a short position in the forward contract would produce an arbitrage profit.
B. a long position in the forward contract would produce an arbitrage profit.
C. firm value will be increased by hedging the firm's output price.
D. a long position in the forward contract has a negative beta.


Answer
Why long forward position has a negative expected return? Anyone can help?