Complete price transparency in a perfect information marketplace is necessary for ____________ to take effect.
A. Bertrand's Law
B. the Law of Universal Prices
C. the Law of One Price
D. the Law of Perfect Commerce
Answer: Option C
Solution(By Examveda Team)
Complete price transparency in a perfect information marketplace is necessary for the Law of One Price to take effect. The law of one price states that in the absence of trade frictions, and under conditions of free competition and price flexibility, identical goods sold in different locations must sell for the same price when prices are expressed in a common currency.Related Questions on eCommerce
The dimension of e-commerce that enables commerce across national boundaries is called _______.
A. interactivity
B. global reach
C. richness
D. ubiquity
Which of the following describes e‐commerce?
A. Doing business electronically
B. Doing business
C. Sale of goods
D. All of the above
Which of the following is part of the four main types for e‐commerce?
A. B2B
B. B2C
C. C2B
D. All of the above
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