The graph of average fixed cost is a horizontal line

Which of the following accurately summarize the empirical evidence about technical analysis?

A) Technical analysts fare no better than other financial analysis—on average they do not outperform the market. B) Technical analysts tend to outperform other financial analysis, but on average they nevertheless under-perform the market. C) Technical analysts fare no better than other financial analysis, and like other financial analysts they outperform the market. D) Technical analysts fare no better than other financial analysis, and like other financial analysts they under-perform the market.

Following Example 8.8 in the book, the long-run supply of rental housing in most U.S. communities is more inelastic than the long-run supply of owner-occupied housing. Why?

A) Local rental housing regulations B) Limited demand for rental housing C) Limitations on the urban land available for rental housing D) A and C above are correct