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10.(12 marks) Efficient Market Hypothesis a.Describe what it means when we say the capital market is efficient and outline its implications.(6 marks) b.Ifthe capital market

10.(12 marks) Efficient Market Hypothesis

a.Describe what it means when we say the capital market is efficient and outline its implications.(6 marks)

b.Ifthe capital market is efficient, does it mean you canexpect todo wellas the marketbyrandomly pickingstocks to form a portfolio? Explain why or why not.(6 marks)

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