(3) Consider two mutual funds, A and B. While each mutual fund generates a return of 8.5%, they have different expense ratios. Mutual fund A has an expense ratio of 3.0%, while mutual fund B has an expense ratio of 39.0%. Mutual fund A generates an actual return of % (net of expenses), while mutual fund B generates an actual return of % (net of expenses). All else equal, the difference in actual returns (net of expenses) between the two mutual funds will for longer time horizons. True or False: Some large mutual funds have increased their expense ratios despite opportunities to capitalize on economies of scale. True False