What Does the Law of One Price State

question 76

Multiple Choice

What does the law of one price state?

• A) A good cannot be sold at a black market price.
• B) A good must sell at the price fixed by law.
• C) A good must sell at the same price at all locations.
• D) A good cannot sell for a price greater than the legal price ceiling.

---

Definitions:

Characteristics

Distinctive traits, qualities, or properties that define or identify something or someone.

Native Language

Refers to the first language a person learns, typically from birth or a very young age, and is often used as the primary means of communication.

Communication Process

The sequence of steps through which information is transmitted and received between senders and receivers.

Receiver

In communication, the receiver is the person or entity who receives the message sent by another party or the sender.