The evidence relating to economies of scale in banking

a. Favors small banks

b. Favors large banks

c. Suggests that larger and smaller banks can coexist

d. Suggests that banks can offer different products at lower costs

Compared with open-end funds, closed-end funds

		a. Tend to invest in less liquid assets
		b. Tend to invest in foreign assets
		c. Tend to invest in Treasury securities
		d. Are actively managed to seek a target return