one three

Consider the following statements. I. The stock market is situated in a developed country and all investors follow a passive strategy of holding the market portfolio. II. The stock market is situated in a developing country with less stringent enforcement of rules mandating disclosure of material information by companies. III. The stock market is situated in a country in which each company's stock is followed by many analysts whose objective is to find mispriced securities. Which of the above are consistent with an efficient market? a. Statement I, II and III. b. Statement I only. c. Statement III only. d. Statement I and II only. e. Statement I and III only. f. Statement II and III only. g. Statement II only