Efficient markets need not be liquid, as long as buyers and sellers can eventually get a fair price for the assets they trade.

Question

Quizplus · Accepted Answer

The more efficient the market, the faster the price reacts to new information; the closer in price is each successive trade; and the greater the amount of securities that can be sold without changing the price. For markets to be efficient in this context, they must be liquid.

Efficient Markets Need Not Be Liquid, as Long as Buyers