Among the important characteristics of market efficiency is (are) that:I. There are no arbitrage opportunities.II. Security prices react quickly to new information.III. Active trading strategies will not

Among the important characteristics of market efficiency is (are) that:I. There are no arbitrage opportunities.II. Security prices react quickly to new information.III. Active trading strategies will not consistently outperform passive strategies.A. I onlyB. II onlyC. I and III onlyD. I, II, and III

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