1. Market prices can be efficiently priced if:
brokerage commissions are zero.
a number of interested traders use the publicly available information.
securities always offer a positive rate of return to investors.
the prices are guaranteed by the U.S. Securities and Exchange Commission.
taxes are irrelevant.
2. Efficient markets require which one of these?
Dart thrower investors
Only rational investors
Overly optimistic amateur investors
Countervailing irrationalities
Investors adhering to the conservatism principle