The so-called market portfolio used as a benchmark in financial economics is:

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The market portfolio used as a benchmark in financial economics is the most diversified portfolio. It includes all investable assets in the market, weighted according to their market value. This means it represents the collective risk and return of the entire market, making it a suitable benchmark for evaluating the performance of individual securities or portfolios. The market portfolio is not necessarily the lowest risk portfolio, the portfolio with the highest expected return, or the portfolio with zero systemic risk.

The So-Called Market Portfolio Used as a Benchmark in Financial