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Assume that stock market returns do not resemble a single-index structure.An investment fund analyzes 125 stocks in order to construct a mean-variance efficient portfolio constrained by 125 investments.They will need to calculate _____________ expected returns and ___________ variances of returns.
Excess Burden
The additional cost to society beyond taxes collected resulting from inefficiencies in market outcomes due to taxation or regulations.
Tax Revenue
Funds accumulated by governments as a result of taxation.
Inelastic
Describing demand that does not change significantly when the price of a good or service changes.
Excess Burden
The cost to society created by market inefficiency, particularly through the misallocation of resources or distortions in the market.
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