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Which of the following theories states that security prices reflect all information, whether public or private? Weak-form efficiency. Strong-form efficiency. Nominal-form efficiency. Semistrong-form efficiency. .

Which of the following theories states that security prices reflect all information, whether public or private?

Weak-form efficiency.

Strong-form efficiency.

Nominal-form efficiency.

Semistrong-form efficiency. .

Correct answer is second choice, please explain why

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