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problem: When the 56 year old founder of G & W Inc., died of a heart attack, the stock price immediately jumped from USD 18.00 a share to USD 20.25, a 12.5 percent increase. This is evidence of market inefficiency, because an efficient stock market would have anticipated his death and adjusted the price beforehand. Suppose that no other information is received and that the stock market as a whole does not move. Is this statement false or true? describe your answer.

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