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Author Question: With regard to international trade, what is the "law of one price"? (Read 150 times)

Sadjam2

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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
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Marked as best answer by Sadjam2 on Oct 12, 2022

Harsh06

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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.
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Sadjam2

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

aliotak

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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