Show me the steps to solve be specific about only this quetion, $1$ Which of the following statements about capital market efficiency is$/$are correct?

I. Insider information cannot be used to make abnormal gains in a strong form efficient capital market

II$.$ In a weak form efficient capital market, share prices react to new information the day after it is announced

III. Share prices reacts quickly and accurately to newly released information in a semi$-$strong form efficient capital market

a$.$ I and II only

b$.$ I and III only

c$.$ III only

d$.$ I, II$,$ and III