Refer to Figure 7-1. At the market equilibrium
A) the marginal benefit is less than the marginal cost.
B) the marginal benefit is greater than the marginal cost.
C) the marginal benefit is equal to the marginal cost.
D) the marginal benefit is zero.
B
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If the efficient market hypothesis is correct, then
a. index funds should typically beat managed funds, and usually do. b. index fund should typically beat managed funds, but usually do not. c. mutual funds should typically beat index funds, and usually do. d. mutual funds should typically beat index funds, but usually do not.
A horizontal merger
A) is a merger between firms in the same industry. B) results in a trust (for example, the Standard Oil Company). C) is a merger between firms at different stages of production of a good. D) was illegal in the United States until the Federal Trade Commission Act was passed by Congress in 1914.