1. Please answer the following questions. You must give clear and concise explanations to sup- port your answers. (a) Explain the three forms/levels of the efficient market hypothesis. (b) In regards the efficient market hypothesis if security prices only reflect past prices and trading volume information then is the market weak, semi-strong or strong form efficient. Explain. (C) If very risky stocks on average give higher returns than safe stocks then does this contradict market efficiency? If so does it contradict the weak, semi-strong or strong form of the efficient market hypothesis. Explain. (d) If managers make superior returns on the purchases of their company's stock does this violate market efficiency? If so does it contradict the weak, semi-strong or strong form of the efficient market hypothesis. Explain. (e) Explain what the joint hypothesis problem is. (f) If the efficient market hypothesis is true, then a fund manager might as well select stocks for their portfolio with a dart. Explain whether this statement is correct or not. a 1. Please answer the following questions. You must give clear and concise explanations to sup- port your answers. (a) Explain the three forms/levels of the efficient market hypothesis. (b) In regards the efficient market hypothesis if security prices only reflect past prices and trading volume information then is the market weak, semi-strong or strong form efficient. Explain. (C) If very risky stocks on average give higher returns than safe stocks then does this contradict market efficiency? If so does it contradict the weak, semi-strong or strong form of the efficient market hypothesis. Explain. (d) If managers make superior returns on the purchases of their company's stock does this violate market efficiency? If so does it contradict the weak, semi-strong or strong form of the efficient market hypothesis. Explain. (e) Explain what the joint hypothesis problem is. (f) If the efficient market hypothesis is true, then a fund manager might as well select stocks for their portfolio with a dart. Explain whether this statement is correct or not. a