(a) Identify and explain ONE incentive and ONE limitation for arbitrageurs to promote market efficiency. (4 marks) (b) Janet, a junior analyst of an investment bank, kept an eye on the share price of Temcent Company, a fintech company with abundant analysts' coverage. She noticed that the share price was increased by 10% immediately after the release of annual result announcement. She said to her senior colleague, Ricky, The share price of Temcent is over-reacted to the result announcement. Net profit was just grown by 1% last year. This is an example of violation of semi-strong-form market efficiency." Ricky replied, "It's not the case. The market is semi-strong-form efficient even though the stock price goes up after the result announcement." Explain why Ricky is correct. (4 marks)