Question: 2. The notion Limits to arbitrage (L2A) provides various alternative explanations for inefficient market prices from classic market efficiency theory. Name three examples of L2A

2. The notion "Limits to arbitrage" (L2A) provides various alternative explanations for inefficient market prices from classic market efficiency theory. Name three examples of L2A issues (or restrictions) that may explain why prices do not always adjust rapidly to new information. (4p/issue, 12p)

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