Which of the following is true?
A) Managed equity funds merely hold stocks in the same proportion they are represented in a broad stock market index such as the Dow Jones Industrials.
B) Indexed equity funds generally have lower management and operating costs than managed funds.
C) Managed equity funds generally outperform indexed equity mutual funds.
D) Indexed equity funds generally engage in more stock trading than managed funds.
B) Indexed equity funds generally have lower management and operating costs than managed funds.
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Brand loyalty in monopolistically competitive markets manifests itself as
A) upward sloping marginal cost curves. B) downward sloping demand curves. C) downward sloping marginal cost curves. D) upward sloping demand curves.
In the long run, fixed costs are
A) sunk. B) avoidable. C) larger than in the short run. D) not included in production decisions.