In an efficient market, the price of a security will: _____________
a. always rise immediately upon the release of new information with no further price adjustments related to that information.
b. eact to new information over a two-day period after which time no further price adjustments related to that information will occur.
c. rise sharply when new information is first released and then decline to a new stable level by the following day.
d. react immediately to new information with no further price adjustments related to that information.