When firms grow larger, they sometimes add many additional layers of managers between the top executives and the entry-level employees. because these managers do not actually produce any output themselves, we expect more layers of management to lead to ) a diminishing marginal return.(b) increasing marginal returns.(c) diseconomies of scale(d) economies of sealed

Consider a treasury bill with a rate of return of 5% and the following risky securities: security a: e(r) = .15; variance = .0400 security b: e(r) = .10; variance = .0225 security c: e(r) = .12; variance = .1000 security d: e(r) = .13; variance = .0625 the investor must develop a complete portfolio by combining the risk-free asset with one of the securities mentioned above. the security the investor should choose as part of her complete portfolio to achieve the best cal would be a. security a b. security b c. security c d. security d