Which of the following is true regarding efficient markets? a. the prices of securities reflect all available information. b. smart money promotes unexploited profit opportunities. c. hot tips in the stock market are likely to bring exceptional returns. d. everyone in the market must be well informed. according to the efficient market hypothesis, the expected return is determined by several components, including the a. cash payment the following period b. required rate of return of investment c. average price in the previous period d. interest rate of treasury bonds pricing behavior in an efficient market indicates that current prices will be set so that the optimal forecast of a security's return using all available information ▼ is equal to is greater than is less than the security's equilibrium return.