For each of the following scenarios, discuss whetherprofit opportunities exist from trading in the stock of the firm under the conditions that $(1)$ the market is not weak$-$form efficient, $(2)$ the market is weak$-$form but not semistrong$-$form efficient, $(3)$ the market is semistrong$-$form but not strong$-$form efficient, and $(4)$ the market is strong$-$form efficient.a$.$ The stock price has risen steadily each day for the past $30$ days.b$.$ The financial statements for a company were released three days ago, and you believe you've uncovered some anomalies in the company's inventory and cost control reporting techniques that are understating the firm's true liquidity strength.c$.$ You observe that the senior management of a company has been buying a lot of the company's stock on the open market over the past week.d$.$ Your next$-$door neighbor, who happens to be a computer analyst at the local steel plant, casually mentions that a German steel conglomerate hinted yesterday that it might try to acquire the local firm in a hostile takeover.