This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: With regard to international trade, what is the "law of one price"? (Read 119 times)

Sadjam2

  • Full Member
  • ***
  • Posts: 153
on: Oct 12, 2022
With regard to international trade, what is the "law of one price"?
◦ The price of a product that is costless to transport will be the same in all markets.
◦ The price of a product worldwide is always equal to the cost of production from the country with the lowest opportunity cost to make the product.
◦ The price of a product is always equal to the absolute cost of the resources that went into its production in any country.
◦ The price of labour, measured in terms of its opportunity cost, is the same in all markets.
◦ The price of natural resources is the same in all markets.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Sadjam2 on Oct 12, 2022

Harsh06

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Sadjam2

  • Member
  • Posts: 153
Reply 2 on: Oct 12, 2022
Wow, this really help

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Polar bears feed upon a number of marine mammals. They are currently at the centre of international Polar bears feed upon a number of marine mammals. They are currently at the centre of international
American Foreign Trade, 1790–1812 American Foreign Trade, 1790–1812
Region’s Culture in International Context Region’s Culture in International Context
The International Radura Symbol The radura symbol must appear on all irradiated foods The International Radura Symbol The radura symbol must appear on all irradiated foods
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
International Business Management International Business Management
Video: Cardiac Cycle (Part 2 of 4)

For a complete list of videos, visit our video library