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

Author Question: With regard to international trade, which of the following is implied by the "law of one price"? (Read 31 times)

xman15.

  • Full Member
  • ***
  • Posts: 155
on: Oct 12, 2022
With regard to international trade, which of the following is implied by the "law of one price"?
◦ The world price of a commodity is established by the country with the highest relative demand for that product without respect to the cost of production.
◦ The world price of a commodity is established by the country with the highest opportunity cost in producing the product without respect to the domestic or world demand for the product.
◦ The price of a specific product will be the same in any two markets in which the cost of labour is the same.
◦ The price of a given product will never be equal in two different markets because of differences in the patterns of demand.
◦ The lower the costs to move a product from one market to the other, the more equal the prices for the same product when it is sold in different 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 xman15. on Oct 12, 2022

MistyHubbard

  • Full Member
  • ***
  • Posts: 174
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


xman15.

  • Member
  • Posts: 155
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Renzo Piano Building Workshop, International departures lounge, Kansai International Airport, Osaka, ... Renzo Piano Building Workshop, International departures lounge, Kansai International Airport, Osaka, ...
Region’s Culture in International Context Region’s Culture in International Context
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
International Management: Managing Across Borders and Cultures International Management: Managing Across Borders and Cultures
International space station. International space station.
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library