<u>Answer:</u> Copper is getting oxidized and is a reducing agent. Silver is getting reduced and is oxidizing agent.
<u>Explanation:</u>
Oxidation reaction is defined as the reaction in which an atom looses its electrons. Here, oxidation state of the atom increases.

Reduction reaction is defined as the reaction in which an atom gains electrons. Here, the oxidation state of the atom decreases.

Oxidizing agents are defined as the agents which oxidize other substance and itself gets reduced. These agents undergoes reduction reactions.
Reducing agents are defined as the agents which reduces the other substance and itself gets oxidized. These agents undergoes reduction reactions.
For the given chemical reaction:

The half reactions for the above reaction are:
<u>Oxidation half reaction:</u> 
<u>Reduction half reaction:</u> 
From the above reactions, copper is loosing its electrons. Thus, it is getting oxidized and is considered as a reducing agent.
Silver is gaining electrons and thus is getting reduced and is considered as an oxidizing agent.
Economic concerns is the correct one
Yes, the atoms of the elements do have different masses but the same volume
Generally speaking a precipitate is something that will form as a result of the reaction. It generally is a solid material.
Sodium and nitrates are soluble so Calcium Phosphate would precipitate out....