Forms of Efficient Markets. Supply the missing words from the following list: fundamental, semistrong, strong, technical, weak. (L05) There are three forms of the efficient market theory. Tests that have found there are no patterns in share price changes provide evidence for the form of the theory. Evidence for the form of the theory is provided by tests that look at how rapidly markets respond to new public information, and evidence for the form of the theory is provided by tests that look at the performance of professionally managed portfolios. Market efficiency results from competition between investors. Many investors search for information about the company's business that would help them to value the stock more accurately. This is known as analysis. Such research helps to ensure that prices reflect all available information. Other investors study past stock prices for recurrent patterns that would allow them to make superior profits. This is known as analysis. Such research helps to eliminate any patterns.

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z