Question: In a portfolio, what does the Capital Allocation Line ( CAL ) represent when combined with a risk - free asset? a . The set

In a portfolio, what does the Capital Allocation Line (CAL) represent when combined with a risk-free
asset?
a. The set of portfolios that offer the best possible trade-off between risk and return.
b. A line that represents the highest risk portfolios available.
c. The relationship between the returns of the risk-free asset and the market portfolio.
d. The line connecting all portfolios with the same level of risk.
 In a portfolio, what does the Capital Allocation Line (CAL) represent

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