Suppose that every time a fund manager trades stock, transaction costs such as commissions and bid–ask spreads amount to 1.3% of the value of the trade. if the portfolio turnover rate is 50%, by how much is the total return of the portfolio reduced by trading costs? (round your answer to 1 decimal place.)

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively