QUESTION 27 Based on Markowitz's work, which of the following portfolios could not lie on the efficient frontier? a. Portfolio A: expected return of 10% and standard deviation of 20%. b. Portfolio B: expected return of 18% and standard deviation of 32%. c. Portfolio C: expected return of 14% and standard deviation of 18%. O d. Portfolio D: expected return of 9% and standard deviation of 11%. QUESTION 49 The primary use of secondary equity markets is most likely a. Provide liquidity for investors. b. Raise capital for firms. O c. Establish a set of rules for firm commitments and best efforts. d. Reduce the risk associated with dividend payments