Suppose the broad stock market falls 5% in one day and Air Canada's stock price also falls

Question:

Suppose the broad stock market falls 5% in one day and Air Canada's stock price also falls by 5%. (L01) Using stock prices as given on page 97:
a. What will happen to our assessment of market value added?
b. Should this decline affect our assessment of the performance of Air Canada's managers?
c. Would you feel differently about Air Canada's managers if the stock market were unchanged and Air Canada's stock fell by 5%?