If the Market Is Fully Efficient,then an Announcement by a Firm

Multiple Choice

If the market is fully efficient,then an announcement by a firm of a new product with a high net present value will cause the market price of that firm's stock to

A) remain constant.
B) rise gradually over the next few days.
C) decline gradually over the next few days.
D) immediately increase to a new level equivalent to the increased value of the firm.
E) immediately decline to a new level equivalent to the decreased value of the firm.