explain it!

1. An efficient capital market is one in which: A. After-tax returns are equalized OB. Security prices reflect available information O C. Risky securities offer a positive rate of return to investors O D. Prices fluctuate smoothly O E. Information is distributed fairly 2. If the is greater than or equal to thethe project should be accepted O A. IRR; NPV O B. IRR: cost of capital c. NPV, discount rate O D. NPV, IRR O E. cost of capital; IRR