Question 5 1 pts The optimal portfolio for a risk-averse investor: cannot be determined occurs at the point of tangency between the highest indifference curve and the highest expected return. occurs at the point of tangency between the highest indifference curve and the efficient set of portfolios. Ooccurs at the point of tangency between the highest expected return and lowest-risk efficient portfolio Question6 1 pts According to the Markowitz model, an efficient portfolio is one that has the: largest expected return for the smallest level of risk. largest expected return and zero risk. O largest expected return for a given level of risk. O smallest level of risk