Which of the following statements about the modern finance theory is most accurate?

	a.	CAPMs SML can help us determine the equilibrium expected return of well-diversified portfolios.
	b.	All of the statements are accurate.
	c.	According to Markowitzs portfolio theory, it is impossible to reduce variance and increase expected return at the same time by varying the portfolio weights.
	d.	CAPM implies that investors cannot diversify away systematic risk due to market frictions.
	e.	One could not earn any arbitrage profit if investors were risk-loving.