问题
单项选择题
Which of the following is a limitation to fully efficient markets（）
A. The gains to be earned by information trading can be less than the transaction costs the trading would entail.
B. In general, for securities with smaller transaction costs, the deviations from informationally efficient prices are greater than for securities with larger transaction costs.
C. There are no limitations to fully efficient markets because the trading actions of fundamental and technical analysts are continuously keeping prices at their intrinsic value.
答案
参考答案：A
解析：
Market prices that are not precisely efficient can persist if the gains to be made by information trading are less than the transaction costs such trading would entail.