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1.Which of the following statements are true aboutthe efficient market hypothesis? Please explain your reasoning for eachstatement. a. It implies perfect forecasting ability. b. It

1.Which of the following statements are true aboutthe efficient market hypothesis? Please explain your reasoning for eachstatement.

a. It implies perfect forecasting ability.

b. It implies that prices reflect some set ofinformation.

c. It implies an irrational market.

d. It implies that prices do not fluctuate.

e. It results from keen competition amonginvestors.

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