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Although the law of one price holds for goods that are nearly uniform in characteristics and quality and easily traded in nearly perfectly competitive markets, many - if not most - goods are not like that. Goods of the same general type may be differentiated in important ways: a Lexus LS and a Ford Focus are both cars, yet they are very different cars, and there is no reason that their prices should be identical.
— Applied Intermediate Macroeconomics
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Language: | English |
Submitted by: | Deroche1 |
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1 | joshua728 | 226 WPM | 100.0% | 283 | 1/2 | Jan. 20, 2024 |
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2 | arenasnow | 199 WPM | 100.0% | 248 | 1/2 | April 8, 2019 |
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3 | alpha_panda | 185 WPM | 99.0% | 231 | 1/4 | Jan. 9, 2020 |
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9 | deroche1 | 176 WPM | 98.0% | 220 | 1/2 | April 21, 2018 |
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10 | zigfried | 176 WPM | 99.0% | 220 | 1/4 | May 11, 2020 |
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