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You are comparing three securities and discover they all have identical Treynor ratios. Given this information, which one of the following must be true regarding these three securities?
Marginal Value
Additional benefit derived from purchasing one more unit of a good.
Consumer Surplus
The gap between the price consumers are ready to pay for a good or service and the price they actually incur.
Marginal Revenue
The surplus revenue acquired from the sale of one more unit of a good or service.
Profit Maximizing Output
The level of production at which a firm achieves the highest possible profit, determined by the point where marginal cost equals marginal revenue.
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