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

Question 98

Multiple Choice

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


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

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