Semi-strong form market efficiency states that the value of a security is based on: a. all public and private information. b. historical information only. c. all publicly available information. d. all publicly available information plus any data that can be gathered from insider trading. e. random information with no clear distinction as to the source of that information.

all publicly available information(C)

Explanation:

The efficient market hypothesis states that the market can't be beaten because it consists of all vital information into current share prices, thereby stocks trade at values which are fair. The theory consists of three versions which are the weak, semi-strong and the strong form.

The semi-strong form states that the value of a security is based on all publicly available information

because public information is a vital aspect of a stock's current price, and the investors can utilize the fundamental or technical analysis, though available information .

answer the law of increasing costs;

answer makes less frequent trips to the bank and firms make less frequent price changes;