Question 7 A strong form of market efficiency implies that: Investors would not be able to earn abnormal returns by using both public and private information A security's price at a particular time fully reflects publicly available information. Investors would be able to earn abnormal returns by using publicly available information. Investors would be able to earn abnormal returns by trading on private information. Question 8 1 pts Which of the following situations implies that the capital market likely achieves the strong form of market efficiency? Firm managers bought their own firms' shares and the share prices incorporated the information conveyed by insider trading after public announcement of the insider trading. Share price incorporates the information in a firm's' annual report gradually after the report is released. Firm managers bought their own firms' shares and the share prices incorporated the information conveyed by insider trading immediately. Share price incorporates the information in a firm's' annual report quickly after the report is released. 1 pts