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Which of the following best describes the term strong efficiency? a. Share prices fully reflect all the relevant, publicly available information b. All relevant information,

Which of the following best describes the term strong efficiency?

a.

Share prices fully reflect all the relevant, publicly available information

b.

All relevant information, including that which is privately held, is reflected in the share price

c.

Share prices fully reflect all information contained in past price movements

d.

Share prices fully reflect information available only to certain shareholders

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