Which One of the Following Is a Better Argument Than

Multiple Choice

Which one of the following is a better argument than the three against the risk aversion assumption of the Markowitz theory?

A) Few people would turn down an extra dollar offered to them.
B) Many instances can be cited of behavior inconsistent with risk aversion.
C) Risk averse investors have more steeply sloped indifference curves.
D) Investor behavior is complicated and not easily generalized.