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21. According to portfolio theory, which of the following assumptions is not essential to the equilibrium pricing of risky assets? Select one: a. All investors

21. According to portfolio theory, which of the following assumptions is not essential to the equilibrium pricing of risky assets? Select one: a. All investors have a common single-period time horizon for investment decisions. c. All investors can sell short assets (sell an asset first and then purchase later). d. All assets are traded in perfect markets.

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