The principle that identical products should sell for the same price in all countries is known as the law of one price.

Name: The principle that identical products should sell for the same price in all countries is known as the law of one price.
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Question

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The law of one price states that in an efficient market, identical goods should have the same price when expressed in a common currency, accounting for exchange rates and transportation costs.

The Principle That Identical Products Should Sell for the Same