Over a period of thirty-odd years in managing investment funds, benjamin graham used the approach of investing in the stocks of companies where the stocks were trading at less than their working capital value. the average return from using this strategy was approximately

a. 5%
b. 10%
c. 15%
d.20%
e. none of the above

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.