(b) The efficient markets hypothesis focuses on the extent to which markets incorporated information into prices. The more information that is incorporated into stock prices and the more rapidly that information becomes incorporated into prices, the more efficient the market becomes. One ways of characterizing the extent to which markets are efficient is to define different levels of efficient corresponding to different types of information that prices may reflect. Required: Critically evaluate the differing forms of market efficiency ensuring the response is supported with relevant examples based on past studies. (40 marks) In this section students should clearly demonstrate both understanding and knowledge of the differing strengths of market efficiency. The discussion / evaluation should be supported with relevant examples that has been performed within this area and should be referenced accordingly as per Harvard referencing requirements. Ensure the response does not become overly descriptive; rather, the response should aim to adopt a critical evaluative approach that develops argument based upon the accessed research, enabling logical conclusions to be drawn