A Portfolio Is Efficient If

Multiple Choice

A portfolio is efficient if .

A) for a given standard deviation, there is no other portfolio with a higher expected return
B) for a given expected return, there is no other portfolio with a lower standard deviation
C) its standard deviation is equal to -1.0
D) for a given standard deviation, there is no other portfolio with a higher expected return and if, for a given expected return, there is no other portfolio with a lower standard deviation