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Author Question: With regard to international trade, which of the following is implied by the "law of one price"? (Read 42 times)

xman15.

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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
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Marked as best answer by xman15. on Oct 12, 2022

MistyHubbard

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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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xman15.

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Reply 2 on: Oct 12, 2022
Excellent

amcvicar

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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