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Explain in 525 words what it means to have efficient capital market

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Explain in 525 words what it means to have efficient capital market, including:

Describe the behavioral challenges in achieving efficiency.
Discuss the three forms of market efficiency.
What are the implications to corporate finance?
Would you consider the real estate market an efficient capital market? Please explain why or why not.

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Explain in 525 words what it means to have efficient capital market

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