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12. Efficient financial markets fluctuate continuously because: The markets are continually reacting to old information as that information is absorbed. The markets are continually reacting

12.

Efficient financial markets fluctuate continuously because:

The markets are continually reacting to old information as that information is absorbed.

The markets are continually reacting to new information.

Arbitrage trading is limited.

Current trading systems require human intervention.

Investments produce varying levels of net present values.

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