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Why are tristates favored over multiplexers to select the output from RAM? The explanation that I've heard of is that the RAM is too large for using a multiplexer but I need more details.

A theory we've come up with is that using a multiplexer would necessitate a tree of OR-gates to select the output which would dramatically increase the propagation time of the signal to the bus whereas with tristates, no matter the size of the RAM, the propagation delay would be constant.

Is that correct?

Thanks