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8. Which of the following is evidence against the efficient market hypothesis? A) Small firms earn abnormally high returns over long periods of time. B)

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8. Which of the following is evidence against the efficient market hypothesis? A) Small firms earn abnormally high returns over long periods of time. B) Stock prices experience an abnormal and predictable price rise from December to January. C) Pricing errors are corrected only slowly. D) All of the above. 9. In an efficient market, new information is not always immediately incorporated into stock prices. A) True. B) False

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