Question $5(10$ points$)$ Assume also that all stocks have positive betas. Which of the following would be most likely to have occerred as a result of these changes?

a The required retarms on all stocks have fallen by the same amownt.

b Required returns have increased for stocks with betas greater than $1\mathrm{.}0$ but have declised for socks with hetas less than $1\mathrm{.}0.$

c The average required return on the market, F $,$ has remained ceostant, but the required retarns have fallen for stocks that have betas greater than $1\mathrm{.}0.$

d$.$ The required returns on all stocks have fallen, but the fall has been greater for stocks with higher betas.

e The required returns on all stocks have fallen, but the decline bas been greater for stocks with lower betas.