Q 2(b) [18 Marks] Explain the concept of indifference curves and, from this, explain the following graphic, which shows a set of alternative indifference curves drawn over the capital allocation line (CAL). Note that is the risk-free rate, Pis the risky portfolio and C is the optimal complete portfolio. Make sure to explain these concepts in your answer. EL U094 08653 U..078 .U.07 CAL E.15 Elr.) 1028 1,-07 0 0, 0902 0,22 Figure 6.8 Finding the optimal complete portfolio by using indifference curves Q 2(b) [18 Marks] Explain the concept of indifference curves and, from this, explain the following graphic, which shows a set of alternative indifference curves drawn over the capital allocation line (CAL). Note that is the risk-free rate, Pis the risky portfolio and C is the optimal complete portfolio. Make sure to explain these concepts in your answer. EL U094 08653 U..078 .U.07 CAL E.15 Elr.) 1028 1,-07 0 0, 0902 0,22 Figure 6.8 Finding the optimal complete portfolio by using indifference curves