If Markets Are Strong-Form Efficient,then Event Studies Should Show That

Multiple Choice

If markets are strong-form efficient,then event studies should show that new information affects a related stock's price

A) for a single day.
B) only when the new information relates to a dividend payment.
C) over a range of days with the overreactions exactly offsetting the underreactions.
D) only if the information is company specific.
E) by a very minimal amount,if any.