You have observed that the stock price of a company had beendeclining for 10 executive trading days. Under which of thefollowing circumstances you can expect to act on the observationand make a profit?

Multiple Choice

• The market is not weak-form efficient.

• The market is weak-form but not semistrong-form efficient.

• The market is strong-form efficient.

• The market is semistrong-form but not strong-form efficient.