In equilibrium, stock prices are stable and there is no general tendency for people to buy versus to sell and also hold the following conditions:

a. The current market stock price equals its intrinsic value, but expected returns must not equal required returns.

b. The current market stock price doesnt equal its intrinsic value and expected returns must not equal required returns

c. Expected returns must equal required returns, but current market stock price doesnt equals its intrinsic value.

d. The current market stock price equals its intrinsic value and expected returns must equal required returns.