QUESTION $2$

Sam is a risk$-$averse investor. John is a less risk$-$averse investor than Sam. Therefore,

a$.$ for the same return, John tolerates higher risk than Sam.

b$.$ for the same return, Sam tolerates higher risk than John.

c$.$ for the same risk, John requires a higher rate of return than Sam.

d$.$ for the same risk, Sam requires a lower rate of return than John.