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In an efficient market: a. firms that are not followed by many analysts tend to yield higher returns b. stock prices do not rapidly adjust

In an efficient market:

a.

firms that are not followed by many analysts tend to yield higher returns

b.

stock prices do not rapidly adjust to new information
c.

security prices are seldom far above or below their justified level
d.

returns tend to be positive on the last trading day before a holiday

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