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Author Question: What is the Law of One Price?[br][br][b][color=#165FFA]Question 2[/color][/b][br][br]When a firm's ... (Read 42 times)

LCritchfi

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on: Jun 30, 2018
What is the Law of One Price?

Question 2

When a firm's average cost curve lies below its average revenue curve at the profit-maximizing level of output, it implies that the firm is suffering losses.
 a. True
  b. False
  Indicate whether the statement is true or false


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voltaire123

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Buying and selling a good simultaneously in two different venues, referred to as arbitrage, unifies a market and brings about a single equilibrium price or price differences that just cover the cost of transacting. This tendency is called the Law of One Price.

Answer to Question 2

False


LCritchfi

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

juliaf

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Reply 3 on: Yesterday
Wow, this really help

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