Which one of the following most accurately describes an equally-weighted portfolio relative to a market-capitalization-weighted portfolio?

O a. The market-capitalization-weighted portfolio likely has higher turnover, transactions costs, and capital gain tax liabilities

O b. The equally-weighted portfolio likely has higher turnover, transactions costs, and capital gain tax liabilities.

O c. The theoretical optimal risky portfolio (P*) is equal-weighted.

O d. The two portfolios are likely identical in their turnover, transactions costs, and capital gains liabilities.