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A well-diversified portfolio is defined as: a. One that is diversified over a large enough number of securities that nonsystematic variance is essentially zero b. One that contains securities from at least three different industry sectors C. A portfolio who factor beta equals 1.0 d. A portfolio that is equally weighted . Imposing the no-arbitrage condition on a single-factor security market implies which or the following statements? CIRCLE ALL THAT APPLY. a. The expected return - beta relationship is maintained for all but a small number of well-diversified portfolios b. The expected return - beta relationship is maintained for all well-diversified portfolios C. The expected return - beta relationship is maintained for all but a small num) of individual securities The expected return - beta relationship is maintained for all individual secu