It is implied from the solution that an eff frontier doesn’t have min risk for a given level of expected return. What is the diffr between this and the statement - “An eff frontier has portfolios that have the max expc return for a given level of risk” ? I am unable to see if the two statments imply differently. Can anyone help? S2000Magician? or anyone else?
i couldnt really understand what u meant but “an efficient frontier has the min risk for a given level of return and vice versa”…that is true
The optimal frontier is all of the portfolios that have minimum risk for a given level of return.
The efficient frontier is all of the porfolios that have maximum return for a given level of risk.
The optimal frontier has a portion below the global minimum-risk portfolio (i.e., with lower return than the GMR portfolio); the efficient frontier has only portfolios at and above the GMR portfolio (i.e., with equal or higher return).
I hope that this addresses your question.
PS: “magician” isn’t capitalized.
Sure, it does. Thanks 
I’ll take care of that.