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The ____ the beta coefficient the ____ the expected return, on average. a. higher; higher b. higher; lower c. lower; higher d. lower; lower or

The ____ the beta coefficient the ____ the expected return, on average.

a. higher; higher

b. higher; lower

c. lower; higher

d. lower; lower or higher (depending on the level of the risk-free rate)

e. None of the above

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