Judge whether the following statements are correct or incorrect and provide a clear explanation: (a) “In equilibri

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Judge whether the following statements are correct or incorrect
and provide a clear explanation:
(a) “In equilibrium, all
investment opportunities must offer the same reward-to-risk ratio.”
(b) “The risk premium on the
market portfolio depends on the average level of risk aversion of
all investors and the riskiness of the market portfolio.”
(c) “The contribution of a
single stock ABC to the risk of the market portfolio depends on the
variance of the stock ABC.”
(d) “Under market
equilibrium, if CAPM is correct, there is no inefficient portfolio
in the financial market.”
(e) “Under market
equilibrium, if CAPM is correct, due to the risk-aversion
assumption in CAPM, any risky asset must have an expected return
higher than the risk-free interest rate.”