Please think carefully on these questions and provide the correct answers with good explanations!

The efficient frontier represents all portfolios that are mean/variance efficient. This is consistent with the forms of the Efficient Market Hypothesis,

True

False

Efficient diversification is different than naive diversification. In efficient diversification security weights are chosen to provide optimal combinations of risk and return.

True

False

In the model discussed, the risk-free security enables the investor to achieve the best expected return at any level of risk by simply combining it and the optimal risky portfolio.

True

False