Question: True or false The efficient-market hypothesis assumes that a. There are no taxes. b. There is perfect foresight. c. Successive price changes are independent. d.

True or false
The efficient-market hypothesis assumes that
a. There are no taxes.
b. There is perfect foresight.
c. Successive price changes are independent.
d. Investors are irrational.
e. There are no transaction costs.
f. Forecasts are unbiased.

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