The quote below is from john bogle (former chairman of vanguard investments)the most fundamental decision of investing is the allocation of your assets: how much should you own in stock? how much in bonds? how much in cash reserves? . . that decision [has been shown to account] for an astonishing 94% of the differences in total returns achieved by institutionally managed pension funds. . there is no reason to believe that the same relationship does not also hold true for individual investors. john boglemr. bogle emphasizes the importance of asset allocation and indirectly cites the results of the brinson study as proof. however, there is an error in mr. bogle’s quote. identify and explain the error.

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.