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In a reasonably efficient market, at the time of an announcement, market prices react to:

A. The announcement of new information that was unanticipated

B. The announcement of new information that was previously fully anticipated

C. Both, i.e., both the announcement of new information that was previously fully anticipated as well as information that was unanticipated

D. Neither, because market price movements are random

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91594923

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