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An investor has the utility function , where is the expected return on the portfolio and is the portfolio variance. The efficient frontier (with no

An investor has the utility function image text in transcribed , where image text in transcribed is the expected return on the portfolio and image text in transcribed is the portfolio variance. The efficient frontier (with no risk-free asset) is given by image text in transcribed . Find the risk image text in transcribed and expected return image text in transcribed of the efficient portfolio image text in transcribed that this investor will choose to maximize their utility. (Hint: write the investors utility function in terms of image text in transcribed, then find its maximum.)

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