lower or higher?

What do you think would happen to the expected return on stock investors perceived an increase in the volatility of stocke? Assuming no change in tastes, that is an unchanged risk aversion, trivestors perceiving higher risk will demand a higher risk premium to hold the same portfolio they held before. If we assume that the risk-free rate is unaffected the increase in the risk premium would require a (Click to select) expected rate of return in the equity market