For this exercise, your instructor may assign you to a group. The chapter describes how a market can be economically efficient. Before you took this class, you might have heard someone say that “markets are efficient.” Compare the description of efficiency in this chapter with what you thought about efficiency prior to taking this class. Write up your thoughts in a paragraph (that you may be asked to turn in or to discuss in class). In your group, each member should make the comparison. Then, as a group, prepare a one-paragraph summary of what you discussed and be prepared to turn in the summary or discuss it with the class.