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Question(s) / Instruction(s):

According to the Efficient Market Hypothesis all informed investors will: 1. a. earn investment returns greater than they expected in the short-run. 2. b. get exactly what they pay for when they purchase a security. 3. c. overpay when they purchase newly issued shares of stock. 4. d. tend to outperform the market over long periods of time. 5. e. be able to purchase securities at less than their true market value.

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