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Among the important characteristics of market efficiency is (are) that: 1. There are no arbitrage opportunities. II. Security prices react quickly to new information. III.

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Among the important characteristics of market efficiency is (are) that: 1. There are no arbitrage opportunities. II. Security prices react quickly to new information. III. Active trading strategies will not consistently outperform passive strategies. O A. I only O B. Il only O C. III only O D.I and III only O E. I, II, and

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