老师答案里面的意思是啥意思那条线

问题如下：

Adira Badawi has higher risk aversion than Noor Mawar. According to the capital allocation line, each of them has the optimal portfolios are :

选项：

Under the capital allocation line .

Just on the capital allocation line.

Above the capital allocation line.

解释：

B is correct.

CAL is consisted of the risk-free assets and all investable risky assets. Each individual has its own indifference curve, which determines the optimal weightings between risk free assets and risky assets. The optimal portfolios must lie on the CAL.