Refer to the Following Figure for Questions 53, 54, and 55

question 67

Multiple Choice

Refer to the following figure for questions 53, 54, and 55.   The steep increase in human population at point "C" indicates the beginning of the ____.

• A) bubonic plague
• B) domestication of plants and animals
• C) industrial and scientific revolutions
• D) discovery of America
• E) emergence of agriculturally based urban societies

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Definitions:

Expected Returns

The anticipated profit or loss from an investment, based on projections or historical data.

Variances of Returns

A statistical measure of the dispersion of returns for a given security or market index, often used to quantify risk.

Mean-Variance Efficient Portfolio

A portfolio constructed to have the highest possible return for a given level of risk, or equivalently, the lowest risk for a given level of expected return, according to Harry Markowitz's theory.

Firm-Specific Variances

Variability in a firm's stock price or returns that is attributable to factors unique to that firm, as opposed to general market factors.