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Which of the following defines an efficient investment portfolio? The portfolio offers the best expected return for a given level of risk. A portfolio which

Which of the following defines an efficient investment portfolio?

The portfolio offers the best expected return for a given level of risk.

A portfolio which lies above the theoretical risk

/

return trade

-

off line.

A portfolio which lies below the theoretical risk

/

return trade

-

off line.

The portfolio offers the highest risk for a given level of return.

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