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Which of the following statements is the MOST accurate? The law of one price states

Chako

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8 years ago

Which of the following statements is the MOST accurate? The law of one price states

Which of the following statements is the MOST accurate? The law of one price states
A) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.
B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price.
C) in competitive markets free of transportation costs and official barriers to trade, identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.
D) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency.
E) in competitive markets free of official barrier to trade, identical goods are sold at the same price regardless of transportation costs.

Textbook

International Economics: Theory and Policy

Edition: 10^th

Author: Krugman

Read 88 times

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machukian

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Chako Author

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8 years ago

Makes a lot of sense, and you're right.. I appreciate the input

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machukian

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7 years ago

Don't forget to vote my answer as best Nerd Face

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