Assume That a Company Announces Unexpectedly High Earnings in a Particular

Assume that a company announces unexpectedly high earnings in a particular quarter. In an efficient market one might expect ________.

A) an abnormal price change immediately after the announcement
B) an abnormal price increase before the announcement
C) an abnormal price decrease after the announcement
D) no abnormal price change before or after the announcement

Correct Answer:

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