3. Answer part (a) and part (b) below: 3(a). Suppose two portfolios have the same average return and the same standard deviation of returns, but portfolio A has a higher beta than portfolio B. Applying the mean- variance framework, would you prefer A or B? Or you are indifferent? Discuss. (5 points) 3(b). Suppose two portfolios have the same average return and the same standard deviation of returns, but portfolio A has a higher beta than portfolio B. According to the Treynor measure, would you prefer A or B? Or you are indifferent? Discuss. (5 points)