please answer both

I) If they both take trading costs into account while choosing an optimal portfolio, two asset managers can choose different optimal portfolios even if they have the same Universe, the same benchmark, the same expected alphas for all stocks, the same covariance matrix, and the same Active Risk target. In particular, if the two asset managers have very different assets under management (AUM), the optimal portfolio of the manager with the largest AUM wil not be as far away from her own current portfolio as the optimal portfolio of the other asset manager will be from hi own current portfolio. II) There is a trade-off between Execution Cost and Execution Risk. Aggressive/Impatient trading has high execution risk but low execution cost. Patient/Non-aggressive trading has low execution risk but high execution cost. a. All statements are true. b. I is true, II is false. c. II is true, I is false. d. All statements are false. I) Assume AQR wants to buy the equivalent of 1% of the typical daily trading volume of TSLA stock. If the current price of TSLA is $1,000 per share, the daily volatility of TSLA shares is 2%, and the trade execution parameter k of AQR is 0.5 , then the estimate of the average purchase price using the Square Root Law (and ignoring TSLA's bidask spread) is $1,001.00. II) Many quantitative asset management companies outsource the execution of their trades. Regardless of whether outsourced or not, these trades are typically executed using algorithms that encode order choice, order scheduling, and order routing decisions. All statements are true. I is true, II is false. II is true, I is false. All statements are false