Consider two mean-variance investors who are not leverage constrained, they both choose an optimal portfolio that combines two risky assets A and B and a riskfree asset. The two investors differ only in their risk aversion. The risky assets yield average returns E(RA) = 10% and E(RB) = 20% with standard deviations A = 15% and B = 5% (a) Which investor will hold a higher proportion of her wealth in the risk-free asset? (10 points) (b) Lets say that the less risk-averse investor holds a positive amount of asset A. Is it possible that the more risk-averse investors holds negative amounts of asset A? (12 points) (c) Given the information given above, can we find the optimal risky portfolio? (12 points)