ogoluwa

3) you should have picked C right off the bat because thats a characteristic of an efficient market. For major news coinciding, I don’t really know what that means exactly. But information should be released independent and somewhat random
4) He wants to prove markets are not efficient, C would not help. A is pretty much about the theory about how the less analysts assigned to a stock the greater the chance you can spot a price inefficiency. So in this case, it may be costly to some to analyze a stock and not so much to others, which gives you a better shot at spotting a mispricing since less are analyzing it. Time is important to because you can make a move before others do.
Answer B is wrong because I don’t think its a limitation.
5) B is just wrong. Wrong wrong wrong. You might be able to argue C or A . but B should have stuck out like a sore thumb