Question: Walmart operates retail units in 27 countries, spread across multiple continents. Target, on the other hand, operates retail stores in United States only, although it

Walmart operates retail units in 27 countries, spread across multiple continents. Target, on the other hand, operates retail stores in United States only, although it has offices in foreign countries. All else being equal, this difference _________.

provides an advantage to Target due to international arbitrage

means that international environment is irrelevant for Target

provides an advantage to Walmart due to geographical diversification

proves that Target faces higher liability of foreignness

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