Which One of the Following Statements Is Correct Concerning Market

Multiple Choice

Which one of the following statements is correct concerning market efficiency?

A) Markets tend to be more efficient when the frequency of price changes diminishes.
B) If a market is efficient,arbitrage opportunities should be common.
C) In an efficient market,some market participants will have an advantage over others.
D) A firm will generally receive a fair price when it sells newly issued shares of stock.
E) New information will gradually be reflected in a stock's price to avoid spooking investors.