The market reacts with a lag to news about earnings. true or false: this post announcement drift could result because investors and analysts anchor on recent $($past$)$ earnings

Group of answer choices

True

False

Markets would be inefficient if irrational investors $\_\_\_\_\_\_\_\_\_\_$ and actions of arbitragers were $\_\_\_\_\_\_\_\_\_\_.$

Group of answer choices

existed; unlimited$$

existed; limited

did not exist; unlimited

did not exist; limited

none of the above

In an efficient market there are no good or bad stocks

Group of answer choices

True

False