Which of the following statements is true concerning the efficient market hypothesis?

Which of the following statements is true concerning the efficient market hypothesis?.

Which of the following statements is true concerning the efficient market hypothesis?

a.Financial investors cannot earn a positive return.

b.Firms securities sell at their “fair” value.

c.Equilibrium rates of return prevail

d.Both a & b.

Which of the following statements is true concerning the efficient market hypothesis?