your coefficient of risk aversion is 3. you invest $1,000 iin your optimal conplete portfolio. The optimal complete portfolio is composed of the optimal risky portfolio and the T-bills. The optimal risky portfolio has an expected rate of return of 16% and a standard deviation of 20% and the Treasury bills have a rate of return of 6%. Which of the following statements is (are) false?

Statement 1: The optimal complete portfolio has higher return-to-variability ratio than any other portfolio that is not the optimal complete portfolio

Statement 2: There are many portfolios that have a return-to-variability ratio as high as the optimal complete portfolio

Statement 3: The optimal complete portfolio is on a higher indifference curve than any other portfolio that is not the optimal complete portfolio

Statement 4: The optimal complete portfolio has a higher expected return than the optimal risky portfolio

A. Statement 1

B. Statement 1 & 4

C. Statement 2 & 3

D. Statement 4

E. Statement 2

F. Statement 3