Elias is a risk-averse investor. David is a less risk-averse investor than Elias. Therefore,

for the same return, David tolerates higher risk than Elias.

for the same risk, Elias requires a lower rate of return than David.

cannot be determined.

for the same return, Elias tolerates higher risk than David.

for the same risk, David requires a higher rate of return than Elias