Which of the Following Statements Is the MOST Accurate

question 22

Multiple Choice

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

• A) 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.
• B) in competitive markets free of transportation costs and official barriers 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.
• 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.
• D) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.
• E) in competitive markets free of official barriers to trade, identical goods are sold at the same price regardless of transportation costs.

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Definitions:

Media House

An organization that produces and distributes content through various media channels, such as television, radio, newspapers, and the internet.

Collaborative Consumption

An economic model that involves sharing, swapping, bartering, trading, or renting access to goods and services, rather than individual ownership.

Independent Drivers

Self-employed individuals who operate their own vehicles to provide transportation services.

Grocery Orders

Requests made by customers for the delivery or pickup of food and household items sold in supermarkets.