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The "Law of One Price" States That the Price of

Question 59

Multiple Choice

The "law of one price" states that the price of


A) a product that is costless to transport will be the same in all markets.
B) labour, measured in terms of its opportunity cost, is the same in all markets.
C) a product worldwide is always equal to the cost of production from the country with the lowest opportunity cost to make the product.
D) a product is always equal to the absolute cost of the resources that went into its production in any country.
E) natural resources is the same in all markets.

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