What is meant by the "law of one price"?
A) A law was passed in 1913 that made it illegal to sell the same good or service to different people for different prices.
B) This is a section of the Sherman Act that forced trusts (for example, the Standard Oil Company) to charge the same price for the same good or service in different states.
C) Foreign companies should not be allowed to sell a product in the United States for prices different from prices these companies charge in other countries.
D) Identical products should sell for the same price everywhere.
D
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In the United States, most workers
A. work for government of some sort. B. produce raw materials for manufacturing. C. work in agriculture and farming. D. produce services rather than goods.
During this century, court decisions on antitrust have
a. changed from per se, to rule of reason, and back to per se b. changed from rule of reason, to per se, and back to rule of reason c. always emphasized per se d. always emphasized rule of reason e. varied from judge to judge without following any pattern
Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays annual compound interest, and you do not withdraw from the account until your retirement at the age of 65, 44 years later. How much more will be in your account if the interest rate is 6 percent rather than 4 percent?
A. $880 B. $5,617 C. $2,390 D. $7,369
Shift to the left or right for supply: business taxes increase or subsidaries decrease
What will be an ideal response?