Multiple Choice
The law of one price
A) states that consumers can only buy one good or service at a time.
B) is a law passed by Congress that prohibits firms from selling a product at two different prices in the same market at the same time.
C) states that consumers will pay any price for a product that has a perfectly inelastic demand curve.
D) states that identical products should sell for the same price everywhere.
Correct Answer:
Verified
Correct Answer:
Verified
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