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 116 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
:D TYSM

okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Some scholars regard Walt Whitman as a poet of nature, and others, a poet of the body—a reference to Some scholars regard Walt Whitman as a poet of nature, and others, a poet of the body—a reference to
Region’s Culture in International Context Region’s Culture in International Context
International Business: The Challenges of Globalization International Business: The Challenges of Globalization
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 ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
International Business Management International Business Management
Video: Introduction to Eating Disorders

For a complete list of videos, visit our video library