Question: which is not true. a). CAPM is market efficiency. b) CAPM is model of price formation that represnts equilibrium risk-relation pertaining only to stock market.

which is not true. a). CAPM is market efficiency. b) CAPM is model of price formation that represnts equilibrium risk-relation pertaining only to stock market. c) SML represents equilibrium relation entitled by cAPM. d) CAPM assumes borrowing equal to lending. e) CAPM assumes no transaction cost.

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