The standard deviation and expected returns for 4 portfolios (A, B, C, and D) are graphed on the following efficient frontier: 
Which of the following portfolios are efficient?
Definitions:
Normal Rate
Typically refers to an average or commonly occurring value within a specific context, such as an interest rate or growth rate.
Marginal Cost
The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.
Fixed Factor
A resource or input whose quantity cannot easily be changed in the short run.
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the output per unit of the variable factor will eventually decrease.
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