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- Which of the following assumptions does not underlie the existence of efficient markets? - Information is costless and widely available to market participants at
- Which of the following assumptions does not underlie the existence of efficient markets?
- Information is costless and widely available to market participants at the same time.
- Investors react quickly and fully to the information.
- There are a large number of irrational investors who actively participate in the market by analyzing, valuing, and trading securities.
- Information arrives randomly.
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