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What does beta measure, and how does the CAPM model use this information to help us value securities? A biotech company is an extremely risky

What does beta measure, and how does the CAPM model use this information to help us value securities? A biotech company is an extremely risky investment, since the results of a single clinical trial can sometimes cause the company to be very valuable or essentially worthless. Given this information, under CAPM would you expect a biotech company to have a low beta or a high beta? Explain.

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