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Assume that a company announces unexpectedly low earnings in a particular quarter. In an efficient market, one might expect ________. an abnormal price change immediately

Assume that a company announces unexpectedly low earnings in a particular quarter. In an efficient market, one might expect ________.

an abnormal price change immediately after the announcement

an abnormal price increase immediately before the announcement

an abnormal price increase immediately after the announcement

no abnormal price change immediately before or after the announcement

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