Suppose That Firms with Unexpectedly High Earnings Earn Abnormally High

Multiple Choice

Suppose that firms with unexpectedly high earnings earn abnormally high returns for several months after the announcement. This would be evidence of:

A) efficient markets in the weak form.
B) inefficient markets in the weak form.
C) efficient markets in the semistrong form.
D) inefficient markets in the semistrong form.
E) inefficient markets in the strong form.