To take advantage of an arbitrage opportunity, an investor would 1) construct a zero-investment portfolio that will yield a sure profit. II) construct a zero-beta-investment portfolio that will yield a sure profit. III) make simultaneous trades in two markets without any net investment. IV) short sell the asset in the low-priced market and buy it in the high-priced market.

Select one:
a. I and IV
b. I and III
c. II, III and IV
d . I, III, and IV
e . Il and III