Scaling biases in valuation have much bigger effects on valuing: Smaller firms with very high growth rates in recent times Firms with high debt-to-equity ratios Larger firms with stable growth rates over time Firms with a higher dividend payout ratio None of the other answers Question 32(0.5 points) Which type of firms would you expect to have lower beta values? Cyclical companies Companies that sell products or services with inelastic demand Companies with high Debt / Equity ratios Companies that sell more discretionary products (e.g. luxuries)