Information on XXX Company's direct materials costs is as follows: 20,000 P40,000 P2.10 Actual units of direct materials Actual direct materials cost Standard price per unit of direct materials Direct material efficiency variance (favorable) P3,000 30. XXX Company's direct material price variance was

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.