Steven just saw a news conference on TV announcing that Hudson Pharmaceuticals is receiving approval from the U.S. Food and Drug Administration (FDA) for the marketing of a new drug. The product is expected to be a breakthrough for the firm. Steven immediately instructed his broker to buy 1,000 shares of Hudson's stock. In the following table, indicate whether Steven could earn above-average returns (and thereby beat the market) under each of the following levels of informational efficiency