Which of the following most resembles a perfectly competitive market?

The efficient markets hypothesis implies that prices in the stock market

A) follow a definite pattern. B) are more likely to go up than down. C) always undervalue the true assets of a corporation. D) are unpredictable.

In the case of a negative externality, the social marginal cost will

a. exceed the private marginal cost. b. be equal to private marginal cost. c. fall short of private marginal cost. d. bear no significant relation to private marginal cost.