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7. When a firm makes an earnings announcement that is different than what the analysts expected the market price of the firm's stock adjusts immediately.

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7. When a firm makes an earnings announcement that is different than what the analysts expected the market price of the firm's stock adjusts immediately. This is evidence consistent with markets being efficient but not efficient. a. weak-form; strong-form b. weak-form; semistrong form C. strong-form; semistrong-form Id, semistrong-form; strong-form

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