Which one of the following statements is correct concerning market efficiency?
Real asset markets are more efficient than financial markets.
If a market is efficient, arbitrage opportunities should be common.
In an efficient market, some market participants will have an advantage over others.
A firm will generally receive a fair price when it issues new shares of stock if the market is efficient.
New information will gradually be reflected in a stock's price to avoid any sudden change in the price of the stock if the market is efficient.