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17 17. Which of the following is LEAST TRUE about market efficiency? a. Financial securities should not be predictably mispriced in a way that creates
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17. Which of the following is LEAST TRUE about market efficiency? a. Financial securities should not be predictably mispriced in a way that creates an easy opportunity for profit if the market is efficient b. A market is considered efficient if the market price is a "good" estimate of the relative value of the financial security c. Market efficiency is a consequence of the collective actions of market participants d. In an efficient market, prices react rapidly and fully to new information e. Abnormal profits from investing are mostly due to luck and are transitory, so active investing is, for the most part, counterproductive if the market is efficient Step by Step Solution
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