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What does efficient market imply? I. Stock prices are in equilibrium and are fairly priced II. Investors can earn a positive return in the stock

What does efficient market imply?

I. Stock prices are in equilibrium and are fairly priced

II. Investors can earn a positive return in the stock market

III. Return is commensurate with the total risk

IV. Return is commensurate with the systematic risk

I II and IV are all correct

I II III and IV are all correct

Only I, II and IV are correct

Only I and II are correct

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