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Consider the following prices from a McDonald's Restaurant:
-A McDonald's Big Mac value meal consists of a Big Mac Sandwich,Large Coke,and a Large Fry.Assuming that there is a competitive market for McDonald's food items,at what price must a Big Mac value meal sell to ensure the absence of an arbitrage opportunity and uphold the law of one price?
Direct Labor Hours
The total hours worked by employees directly involved in the production process, used in costing and pricing decisions.
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