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Answer the following questions with detailed explanations.Keep the format reader-friendly (20% of the marks). For example, use bullet points and highlights to structure your answers.

Answer the following questions with detailed explanations.Keep the format reader-friendly (20% of the marks). For example, use bullet points and highlights to structure your answers. (Suggested time for this question: 30 minutes)

1) Are markets efficient? Explain your answer.

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