The Optimal Portfolio for a Risk-Averse Investor

The optimal portfolio for a risk-averse investor:

A) cannot be determined.
B) occurs at the point of tangency between the highest indifference curve and the highest expected return.
C) occurs at the point of tangency between the highest indifference curve and the efficient set of portfolios.
D) occurs at the point of tangency between the highest expected return and lowest-risk efficient portfolio.