For the same message and index, which scheme has the higher equivalent frequency deviation at high audio frequencies?
Answer: A
PM's equivalent deviation is index times message frequency, so it grows with the audio frequency while FM's deviation is fixed by amplitude alone. At the top of the band PM therefore deviates more and occupies more spectrum. Equality holds only at one particular frequency. And deviation is certainly not fixed in PM, which is the whole point of the comparison. This is the quantitative form of the qualitative difference between the two indices.
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