If a Product Is Very Inexpensive to Move from One

question 30

Multiple Choice

If a product is very inexpensive to move from one regional market to another, then the

• A)"law of one price" argues that it will sell for the same price in all markets.
• B)price it sells for in every country will depend on the cost of labour in the single low- cost country in which the product was produced.
• C)absolute cost of producing the product must be the same in all markets.
• D)difference in the price from one market to another will depend on the relative elasticities of demand in the separate markets.
• E)production of the world supply will be from the single country with the lowest absolute cost of producing it.

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Definitions:

American Medical Association

The American Medical Association (AMA) is a professional organization for physicians in the United States, dedicated to promoting the art and science of medicine and the betterment of public health.

American Pharmacists Association

A professional organization representing pharmacists in the United States, focusing on improving medication use and advancing patient care.

American College of Physicians

A professional organization for internal medicine physicians aimed at promoting excellence and professionalism in the medical field.

American Association of Medical Assistants

A professional organization for medical assistants, providing certification, education, and networking opportunities.