According to the law of one price, identical products should sell for the same price everywhere if Select one: a. consumers have knowledge of the prices charged for products in different markets b. transactions costs are zero. c. firms can prevent consumers from engaging in arbitrage. d. there are no tariffs or other restrictions on imports or exports.

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Adisadvantage of corporations is that shareholders have to pay on profits.

Petra contracted to paint bret’s house for $2,000. after beginning the job, petra realizes that the house is really quite big, and she’s not going to make enough profit, so she tells bret she wants another $500 to finish the job. bret doesn’t want to pay more, but he’s afraid that if she walks off the job, he’ll have trouble finding someone else to finish it, so he agrees. is bret legally obligated to pay the extra $500?